last week I posted on how the XJO had broken down from a sidways channel to an equal lower sideways channel and was possibly about break back up to the top channel again.....and it has all happened before. Below is a comparision of the XJO today and the DOW of the 1930s. I used to think of the period early 1933 to 1937 as a cyclical bull within a secular bear but breaking that period down even further we have.....a few months of corrective bounce after the massive fall of 1929 to 1932, then a sidways action that lasted the best part of 2 years and then a bull phase of about 2 years up to the 1937 peak. The modern day action on the XJO has been eerily similar to date. Note the circled areas in the lower channels.![]()
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last week I posted on how the XJO had broken down from a sidways...
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