Similarities to SPX 1/21/08
Similarities between 1/21/08 & 12/26/18:
-SPX dropped 19%
-200MA bounce
Potential next moves:
-Retest of 200MA (could happen more than once)
-50% retracement from recent highs. Note this took 119 days and SPX gained approx 13.3% during this time before falling much further into the bear market.
History does not always repeat itself. But similarities in price action is interesting none the less.
-SPX dropped 19%
-200MA bounce
Potential next moves:
-Retest of 200MA (could happen more than once)
-50% retracement from recent highs. Note this took 119 days and SPX gained approx 13.3% during this time before falling much further into the bear market.
History does not always repeat itself. But similarities in price action is interesting none the less.
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