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To: Thean who wrote (1186)	7/19/1998 1:38:00 PM
From: Lucretius	Respond to of 14427

The time periods are not exactly the same (the '28 to '29 period covers about 1 year while the '97 to '98 is roughly a year and a half), but the similar swings in emotion are strikingly similar. Notice the bottom of the pullback that occurs in Dec of '28 that corresponds w/ the bottom of the correction in early '97. Both mkts then rise and consolidate based on financial disasters in other countries. Then it was Britain's financial collapse. Today it is Asia. In both cases the Fed knew the mkt was getting out of control (remember Greenspan's 'irrational exuberance' comments in late '96) but couldn't raise rates to slow things down because it would harm the collapsed economies. Similarly, in both cases after 6 months of basing we shrugged off the problems and went even higher. Then we had a small correction and shorter high level consolidation before making one last vertical leap. I think we are in the middle of that leap now. 1929's move topped in mid August? If nothing else these funny coincidences make you laugh. Use this for '29: decisionpoint.com Use this for a daily chart from 1/1/97 till now: bigcharts.com