6.9 C
New York
Friday, March 29, 2024

Dow October 1929 – October 1930 vs. 60 Minute S&P 500 Chart

Dow October 1929 – October 1930 vs. 60 Minute S&P 500 Chart

Courtesy of Mish 

The time scales are different, but the similarities in the historical DOW chart and a recent 60 minute chart of the S&P 500 are amazingly alike.

click on chart for sharper image

Although these types of direct historical comparisons have limited trading value, it is still interesting to see similar patterns repeat now and then. The market action from the high in April matches the market action from the October 1929 high almost perfectly (albeit on different time scales).

Should the pattern continue you might expect something like this.

Dow October 1929 – July 1933

click on chart for sharper image

The first chart ended October 1930, where the above red arrow starts. I am not calling for the pattern to continue, but I am certainly open to the idea that it could.

Mike "Mish" Shedlock

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,450FansLike
396,312FollowersFollow
2,280SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x