We Have Seen This Stock Market Environment BeforeBy on 2017 Feb 24 Fri 12:00
The following chart shows the weekly bars of Dow, S&P 500 and Nasdaq 100 since the beginning of 2016. Many people questioned how come we have never seen this before. In fact, there is no match from historical data to the way how these markets performing lately.
But, there is indeed a near perfect match. Here is the weekly chart to prove it.
Everything, including the way weekly volatility behaved, is matching.
People cannot find this because they have not looked hard enough.
This chart is the weekly chart for year 2008-2009, upside down. Let’s look at it again, normally.
The red line marks where we are right now in terms of trading weeks into the year.
Even if the timing is off by a few months, meaning that 2017 February so far should be matched with the swing low in November 2008, an important top is still very much going to happen no later than this July.
Time to be ready.