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Strategies & Market Trends : World Outlook
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To: Les H who wrote (38865)10/21/2023 9:39:21 AM
From: Les H  Read Replies (1) of 49780
 
A lot of people are pointing to similarities with 1987. There's a similarity in the last six months with the current Dow chart looking weaker. The volatility was 28 on the same day while it's only 13 today. It's because the 1987 market went down about 10% during the options week and over 5% on Friday's option expiration.

mrci.com

My guess is that the market is up on Monday for the 14th Monday in a row since the markets have been down 4 days in a row and the volatility is still low. At worst, the indices break the October 3 low with a 2% decline, the volatility will start to explode, and the potential for a big decline is there. The Dow has formed a head-and-shoulders with 2 shoulders on each side, which is a reliably bearish pattern.

Bulkowski's Complex Head-and-Shoulders Tops, ranks 7th out of 36 patterns

thepatternsite.com
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