I found an incredible matching fractals with both of percentage-wise measurements (up & down) and pattern similarity compared with the period of 1968-1970. Expects -35% down side and a recession if this history repeats itself. Prepare for the worst guys!
“History Does Not Repeat Itself, But It Rhymes.” - Mark Twain
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And how can we explain the coincidence with the similarity of Unemployment claims compared with 1968-70? Both periods have the lowest unemployment rates. Recessions always come when no one prepare.
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It may bounce from 3,000 to prepare for the 2nd leg down. Play wisely, guys!
Trade closed manually
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It was so much worse this time so I'll close this idea.
I think Bernie Sanders can really make this happen.
AlexAlexander
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The Recession of 1969–1970 was a relatively mild recession in the United States. According to the National Bureau of Economic Research the recession lasted for 11 months, beginning in December 1969 and ending in November 1970,[1] following an economic slump which began in 1968 and by the end of 1969 had become serious, thus ending the third longest economic expansion in U.S. history which had begun in February 1961 (only the 1990s and 2010s saw a longer period of growth).
At the end of the expansion inflation was rising, possibly a result of increased deficit spending during a period of full employment. This relatively mild recession coincided with an attempt to start closing the budget deficits of the Vietnam War (fiscal tightening) and the Federal Reserve raising interest rates (monetary tightening).[2]
During this relatively mild recession, the Gross Domestic Product of the United States fell 0.6 percent. Though the recession ended in November 1970, the unemployment rate did not peak until the next month. In December 1970, the rate reached its height for the cycle of 6.1 percent.[3]
AlexAlexander
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@AlexAlexander, unfortunately, if not for technically looking the same, fundamentally we are in a period of fiscal expansion and monetary expansion. good thought but believe your idea is negated on those 2 premises.
System_T
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@AlexAlexander, Thanks for bringing us a good knowledge about the past recession.
Turner5643
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@System_T What are you thinking now as this bounce is occurring? Temporary bounce before we find new low - Or are you looking more bullish?
System_T
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@Turner5643, I'm on the side line now. All predictions may have very low chance with the current market volatility.
System_T
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It's happening, guys!
Ricardo_Matsushita
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Amem to that. We really need a harder correction.
supere
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I think you are right on the money, sir. In fact, I posted something similar about the NYA some months ago. If this is indeed a very extended megaphone pattern, we are looking at a -35 to -50% drop actually. Some stocks may crash 75-90% (ie. AAPL and TSLA). We do not want to be on the wrong side of the trade when it happens.
Peterson
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@supere, Fortunes will be made and lost shortly , choose wisely