I am perhaps losing all my credibility posting this, but I wanted to share my observations on this nevertheless. Have you noticed that the current recovery rally looks a lot like the rally in March-May 2008. Merely visually speaking. We all know too well what followed next. Will it be different this time? Have we priced in all the downsides, or did we overlook something significant that has yet to unfold?
sometimes news makes charts and sometines charts make news. unless you can recreate the panic that was around back then your pattern is meaningless.
Also something to think about...the next six months are usually the strongest of the year... And of course, we're probably better off than in the fall of 2008, unless the EU falls off the map. http://www.ritholtz.com/blog/2011/10/a-tale-of-2-seasonal-investors/
isn't there a distinction shown in said chart ? Last time the price action you note occurred after a large downtrend; this time it is preceded by an uptrend. non?
+1 But you never know. If we follow the 2008 chart, we should have a little bit more upside then the crater Chart is predicting Euro disaster.
Speculation is the root of all evil (Gekko) As a disciplined trend follower I'm amazed you'd post this. I'm sure you know for us it really doesn't matter. Interesting to ponder though. On a side note, the apparent series of lower highs and lower lows would alert some the mega trend is down. Only time will tell, it's too large a time frame for me to care though :0
*losses/wealth destruction/the worlds current s*** economy - it's inevitable however, study history. Sidelines??? We should've been long since last Friday!!
lower highs and lower lows would alert some the mega trend is down ------------------------- Only some in the TA camp would consider this to point to a down trend?