Looking at the weekly charts, the current charts appear to match up closer with the end of January 2002 period. The lack of a strong trend indication on the ADX is one thing that separates this on a weekly period from the April 25, 2002 and Sept. 24, 2002 timeframe.
stockcharts.com[h,a]waclyiay[df][pc9!c13!c20!d20,2!h.02,.20!c50!f][vc60][iLa4,9,5!Lh5,5!Li10,10!Lp14,3,3!Ll14!Lo14!Lb14!Le5,10,1!Lc10][J9033281,Y]&pref=G
It would be nice if we could find a pattern that matches up nice with this time period, but I think we have a unique pattern here that may not have been played out in the COMP at least. We'll see.
You'll notice that after April 25 we dropped from 1711 on the COMP to 1560 without much of a bounce in between. The Dow did bounce a bit. The 24th of Sept. the COMP hit 1169, and the macro low came in only 61 points lower after some bouncing up to 1239 COMP. |
