Take a look at this chart closely.
The S & P 500 usually moves max 400 - 423% in cycles.
1920's ---- 400%
Now ------ 400%
Then recessions always hit to start the clock all over again.
Before big corrections happen.
Right now we just did that 400% in the recent high!
Will history repeat itself
This is a short term chart!
I will post the monthly chart after this one.
Please note 1974 and 1987 when the market broke above this trend line we had some massive sell offs.
We have been below this line since 2008.
The previous times the market has stayed below this line respectively:
1936 after 16 years
1974 after for 21 years
Currently just 12 years!
Right now we are in a overthrow situation.
Also on a daily chart if you look at it close us we are at the upper edge of the trend line!
RSI is at 90!
I think AAPL stock beats earnings and the market sells off after earnings.
All thoughts are welcome.
If you look back at the history of the S & P 500 you can see that over time the bull markets have had the following moves.
1929 Peak it moved exactly 400% from that rally!
1990 - 2000 it moved exactly 423% from that rally!
Now we are right at 400% move!
I'm counting the moves that were made in between recessions.
When a recession hits the clock starts over...
Right now we are back in the daily channel range of this recent rally.
Right now we are slightly above that 1981 trend line!
If you slide the chart back you will see that we where in a throw over situation back in 2012.
History should repeat.
All thoughts and wisdom would be appreciated.
We are right up to that long term trend line!
Click my name and you can see from my previous charts of this long term trend line.
It's a very important line if you look at it close up on a Monthly basis and the importance this line has had over the past 80 years.
The 1987 Stock market crash came right up to this line.
Right before Nixon resigned it came up to this...