A beautiful sunny morning on the anniversary of the 1987 stockmarket crash, Monday 19th October.
The day wouldn't be complete without a big bear like me posting an '87 comparison chart with present day.
The run-up in the 80's is eerily similar to the large rally we've seen recently - equities riding very high on the weak dollar. There does come a point when this scenario can no longer be sustained. Not saying we'll get a repeat of the hip drug crazed 80's one day decline, but it is worth being very cautious in this environment. The 80 year market cycle is coming to fruition, which warns of a period of long systemic down-turn.
Daily chart below:
- black solid line is present day
- blue dotted line is '87 crash
- green solid line is just me moving the current rally back a couple of months to show how similar they really are.
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Last
8,580.1 |
Change
-9.100(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.2 | 8,619.8 | 8,568.2 |
| XJO (ASX) Chart |