What that shows is that there is not an immediate melt down, and in fact the probability of a new recovery high.
I have been examining the 2007 analogy for awhile.
siliconinvestor.com
Since I have not registered the MF figures I want, I haven't acted on it in a bet the farm way.
At this point there is a distinct possibility, not necessarily a probability, that we are in a typical corrective pattern. Sell off, bounce back up to the middle BB band, then a final woosh. That happened in May - June '13, and August '13, and on previous occasions.
In July - August '07 the first sell off was down .077%, this one was .058%, adjusting the percentages we could go, strictly on a percentage basis, to SPX 1711 on a closing basis, 1687 if we get the whacky intraday one day woosh that occurred on 8/16/2007 and closed higher that day. And then up again. Of course, just because that happened then does not mean that it might happen now.
What do you think? |
