Thursday, August 12, 2010

DJIA mimicking wave 2 correction exactly like 1987!

DJIA 1987 & 2010
DJIA mimicking wave 2 correction exactly like 1987!
Can you identify the difference in wave 2 in the above charts shown
The first chart is of DJIA in 1987 just before the crash. Wave 2 ended at 2650 and market fall to 1620 in less than 11 trading sessions
Market has mimicked exactly the same corrective pattern NOW
I was shocked to see even the retracement levels are perfectly in sync with end of waves "a" & "c" in spikes
It looks nothing changed in more than 2 decades in terms of people behaviour and psychology. It is correctly said - technology cannot change the inherent behaviour of people & they will act exactly the same way even if a millennium is passed!!!

5 comments:

  1. great chart !! history repeat once again.traders come-out but never change history.tx for chart

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  2. 唯有用熱情、用智慧去觀察事物,這事物才會把他的秘密,洩漏給我們......................................................................

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  3. Excellent observation...!


    Aurum

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