AscensionTrading

Yup, another 2008 comparison chart

Short
SP:SPX   S&P 500 Index
The green bar pattern is taken from the 2008 top to the 2008 bottom. The downturn took 511 days from top to bottom of the market and was a 57% downturn. We are have been tracking the 2008 price action extremely closely for about a year now. In 2008, at 358 days from the all time high, we broke to new lows and got a capitulation event that lasted another 100 or so days. The same thing doesn't have to play out again, but know that it is possible. It would also put the market bottom sometime next spring or summer, right in the middle of the predicted recession. Markets tend to bottom in the middle of recessions, so that also lines up very well. Let's see what plays out from here!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.