SPY 2008 dailys vs current daily with Burry tweet bout Nadir 180
Two questions I had:
how low will this go? I have no idea, so I used Burry's tweet suggestion.
how many years will it take to recover SPY to the current level? I have no idea, so stretched out the pattern based on Burry's tweet suggestion.
I still suck at charting, so don't use this. I actually thought we had one more last bounce, but looks like it's already dropping already.
For this chart:
I took a bigger picture view (curious how long it took for 2008 crash to recover to the same level as current pattern.
Biggest assumption here is using Burry's recent tweet, which said something about Nadir being 10% below the most recent market crash.'
The most recent crash was March 23 2020 (wonderful Covid lockdown times) when Spy was about 220 to 230
So 10-15% below (based on Burry's hypothesis) puts the bottom around 180.
So, I used the same bars pattern to make the very bottom at 180, and then it gave the timeframe.
Don't trade on this, it's just a hypothesis/theory, and I still am new to charting.
how low will this go? I have no idea, so I used Burry's tweet suggestion.
how many years will it take to recover SPY to the current level? I have no idea, so stretched out the pattern based on Burry's tweet suggestion.
I still suck at charting, so don't use this. I actually thought we had one more last bounce, but looks like it's already dropping already.
For this chart:
I took a bigger picture view (curious how long it took for 2008 crash to recover to the same level as current pattern.
Biggest assumption here is using Burry's recent tweet, which said something about Nadir being 10% below the most recent market crash.'
The most recent crash was March 23 2020 (wonderful Covid lockdown times) when Spy was about 220 to 230
So 10-15% below (based on Burry's hypothesis) puts the bottom around 180.
So, I used the same bars pattern to make the very bottom at 180, and then it gave the timeframe.
Don't trade on this, it's just a hypothesis/theory, and I still am new to charting.
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