On the left we see 29 trading days from peak. On the right we see 29 trading days from peak before the historical stock market crash of 1987. It is a stock market crash fantasy because huge stock market crashes are very rare events that are most likely not to occur. That being said, IF a crash is going to occur it would more than likely *only* start very soon...
Since Microsoft bought ChatGPT back in March 2023, the price of NASDAQ:MSFT stock has gone on to replicate the same pattern as the 1987 S&P500 stock market rally. Does it mean anything all by itself? No. It still needs a catalyst for the drop to happen. The 1987 stock market crash had many triggers and catalysts and the drop was a sharp 40% from August 28th,...
Dow Jones industrial average index has lost its February 2020 support. As this support did not hold i am convinced that the oldest US index has begun the great depression, not recession but depression. You can already see what fiat pairs with the USD are doing. The run up was just phenomenal to say the least. We've been essentially parabolic since 2009, with the...
The 2022 March low is a massive bull trap, signaled by trend breaks and a monthly RSI divergence. The setup here reminds me of 1987. Check out the Sqzme DIX index to see the balance of OTC transactions (Over-The-Counter trades, conducted by hedge funds, banks etc). DIX indicates a bull trap to a scale not seen in over 10 years. Heavy OTC buy-side initiation...
There a millions of market viewpoints. The nice thing about tradingview is that for the most part the viewpoints are technical in nature. Put simply the technical viewpoint I want to show in the chart here is that the nasdaq composite is under heavy selling pressure. We had a rebound today January 10th, 2022, but it was nothing more than an intraday rebound. ...
I am on watch for signs of a resumptin of the downtrend this week. A repeat of 1987 seems very unlikely. However I am open minded. Look for a couple of doji candlesticks early this week or flat close. Then be on watch for a big red down bar that closes back down UNDER the downtrend line. If this happens, and it happens very swiftly, we must be open minded to...
Chart made on October 4th, 2020 - revisited today. Hold on to your butts.
A technical view of the Black Monday crash in 1987.
Pretty self explanatory. Remember it's just a simple trendline/channel, don't bet the farm on it.
It's uncanny how the bar pattern taken from the events surrounding 1987's Black Monday are rhyming today. Will history repeat itself?
ESA has been trading in an ascending wedge since the Feb correction and is now testing the 78.6% retracement level; Just like back in 1929 and 1987. I don't like the odds here so would be neutral...ok, bearish if you put a gun to my head. Trumpard is making me worried.
Is a market crash coming ? Rarely, in the last 30 years, have we had a US market price action (SP500) that similar to the days preceding the 1987 crash. There is no certainty that history will repeat but it might useful to consider that it is at least a similar technical setup. Time to be cautious on the long side, as long we don't make new highs.
TRIGGER FOR SP500 WOULD BE TRADING BELOW 1880... IF SO: WATCH 3 days down 13%