Is the DJI about to repeat 2008? Great Recession V2?
I'm not one to base trades purely on confluences from the past but in this situation its very hard to ignore the similarities from the late 1990s / early 2000s and now. The Corona Virus dump was an accelerated move that may have condensed what would have been a multi year bear market into a two month slash and thrash. Was the recovery we just saw one of the largest bull traps in history? Based on the percent gains / losses and the overall structural similarities of the Great Recession I would argue that at the very least all investors should be at the minimum very cautious and cognizant of the daily low around 33300. One could argue that the DJI already has put in a lower high and as of two days ago a lower low. Stay safe, let me know your thoughts! When I started drawing this out I was baffled by the almost exact nature of the % gains/losses and figured id share my findings.
AVL3
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.