Everyone says this is not like 1987.
Well here are a couple of charts that show remarkable similarities.
Firstly 14 monhs for a final leg is always the norm.
Secondly 60 or 90 days for the last spike is also the norm.
The XJO suggests the market tops this month.
SPI says it could last as long as the beginning of Nov.
In '87 SPI expiration was at he end of the month not the middle so not sure what that implies.
Several analysts have tops indicated for about 4th Nov and I would allow even to mid Nov at a stretch.
On Friday the US markets would equal the bull run of the 1980's.
Mid Nov they equal the 1932 -1937 bull run.
Everything that has happenned this year is consistent with the standard cycles and only getting through Nov without a severe drop or the commencement of a multi month decline would invalidate that.
warty wednesday, page-3
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Last
7,750.7 |
Change
-16.800(0.22%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,767.5 | 7,767.5 | 7,710.3 |
| XJO (ASX) Chart |