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CNBC: Dow Repeats Great Depression Pattern: Charts
Asheron
Posts: 1,229 Forumite
The Dow Jones Industrial Average is repeating a pattern that appeared just before markets fell during the Great Depression, Daryl Guppy, CEO at Guppytraders.com, told CNBC Monday.
“Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that developed before the Depression in 1929, then with the recovery in 1930 we had another head and shoulders pattern that preceded a fall in the market, and in the current Dow situation we see an exact repeat of that environment,” Guppy said.
The Dow retreated 457.33 points, or 4.5 percent last week, to close at 9,686 Friday. Guppy said a Dow fall below 9,800 confirmed the head and shoulders pattern.
The Shanghai Composite is seeing a very rapid collapse, falling below 2,500, which suggests the major fall in the Dow, he added.
http://www.cnbc.com/id/38092759
“Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that developed before the Depression in 1929, then with the recovery in 1930 we had another head and shoulders pattern that preceded a fall in the market, and in the current Dow situation we see an exact repeat of that environment,” Guppy said.
The Dow retreated 457.33 points, or 4.5 percent last week, to close at 9,686 Friday. Guppy said a Dow fall below 9,800 confirmed the head and shoulders pattern.
The Shanghai Composite is seeing a very rapid collapse, falling below 2,500, which suggests the major fall in the Dow, he added.
http://www.cnbc.com/id/38092759
As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.
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Comments
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this is alarming news. i think a shrewd investment in gold and silver might shield peopel from the coming bad times0
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In other news Gold dropped another 1.1% today and over 5% in the last week.0
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In other news Gold dropped another 1.1% today and over 5% in the last week.
If can't shelter in the 'safe haven' gold what is the world coming to?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
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Baked beans have gone up by nearly 50% in the past 12 months. You can't eat gold.0
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I'm truly shocked at the price hikes on groceries over the last twelve months (inflation at 3%... pah!), the local Tesco seems to be particularly expensive and rarely price match anything I'd use or eat personally. Not that I use it regularly you must understand, maybe around 9pm when there are bargains to be had.
Get my milk and eggs delivered by a local farm, there's a market on Wed & Sat and a great butcher in the local town, little odds'n'sods I'll pickup in local shop. Really makes sense in terms of cost and quality, although a little more effort is involved compared to the "onestopshop" supermarkets that are now screwing everyone royally on prices.0 -
Gold down another 2% today, ouch!0
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