• 576 days Will The ECB Continue To Hike Rates?
  • 576 days Forbes: Aramco Remains Largest Company In The Middle East
  • 578 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 978 days Could Crypto Overtake Traditional Investment?
  • 983 days Americans Still Quitting Jobs At Record Pace
  • 985 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 988 days Is The Dollar Too Strong?
  • 988 days Big Tech Disappoints Investors on Earnings Calls
  • 989 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 991 days China Is Quietly Trying To Distance Itself From Russia
  • 991 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 995 days Crypto Investors Won Big In 2021
  • 995 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 996 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 998 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 999 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,002 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,003 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,003 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,005 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

October 2009 Stock Market Crash Ahead

Technicals indicate a 1987-style stock market crash is anticipated for the current month. The Rising Wedge pattern on today's DJIA daily chart is technically perfect as was the 1987 Nasdaq weekly chart before the crash of that fateful year. Soon, I anticipate opening a position in QID to take advantage of this event.

Observe how the technicals repeat, this time on a daily chart:

Compare to the multi-year weekly chart of the Nasdaq in 1987:

I am not a professional investment advisor, consult one if you would like. My advice to those who ignore technicals is to work in a single story building, although defenestration makes great copy for the next day's headlines. And of course, no guarantees from the management.

Good luck, and see you at the bottom.

 

Back to homepage

Leave a comment

Leave a comment