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Showing posts with label 1929. Show all posts
Showing posts with label 1929. Show all posts
Sunday, March 08, 2009
Sunday, November 30, 2008
The Great Crash
Here is a comparison (for entertainment only) between the crash of 1929 and 2008. Note how the first leg down so far in 08 bear similarity to 29' in that both crashed about 50% from its high at this point in the calendar year.
In 29' the weekly chart shown climbed back up to the 50% fib level b4 failing again in Apr. of 1930.
The 50% retrace level for modern day dow chart to the right would be about 10800, right at one of the weekly resistant points.
I am also recommending The Great Crash, by John Kenneth Galbraith.
If you are lazy like me, look for the audio version of the book.
In 29' the weekly chart shown climbed back up to the 50% fib level b4 failing again in Apr. of 1930.
The 50% retrace level for modern day dow chart to the right would be about 10800, right at one of the weekly resistant points.
I am also recommending The Great Crash, by John Kenneth Galbraith.
If you are lazy like me, look for the audio version of the book.
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