| |
| |
Chris Kimble applies his technical skills to the much discussed question of similarities between the legendary Crash of 1929 and the Plunge of 2007.
To paraphrase David Swenson, the Chief Investment Officer at Yale: "It's not the odds of something happening that is important, it's the impact if it does!"
The pattern of the Dow from 1929-1930 has significant parallels to the pattern in the S&P 500 from 2007 to now (most notably, rising wedges that both came to completion as Fibonacci resistance was hit).
The odds of the 500 index continuing to follow that the Dow pattern of 1929 to 1932 are low, yet if it should, the impact could be high on investment portfolios.
The Trillion Dollar question: "Will It Be Different This Time?"
|
|
