..will history repeat itself?
..there have been many years in which the year started out with a bang from the year end rally the year before, but proved to end with a whimper shortly. The % drop does not look terribly nasty but the correction was broadly felt and larger than what XJO reflected.
..will February prove to be the month we witness a correction again? We had that in 2023, 2022, 2020, 2018, 4 out of the 6 years between 2018-2023.
Column 1 Column 2 Column 3 Column 4 Column 5 0 XJO 1 Q1 peak Q1 peak Contract to Contract to Drop% 2 30/01/2023 7558 20/03/2023 6955 -8.0% 3 4/01/2022 7453 24/01/2022 6988 -6.2% 4 17/02/2020 7139 16/03/2020 4817 -32.5% 5 2/01/2018 6122 12/02/2018 5904 -3.6% 6 2/03/2015 5899 18/05/2015 5665 -4.0% 7 28/02/2011 4864 14/03/2011 4626 -4.9%
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