The current price action in the S&P 500 is eerily similar to the movement leading up to the collapse in 1987... (via Bloomberg)
The Dow is also tracking this move almost perfectly over the last two years...(via Citi)
The next three charts are particularly concerning...
Here is the Dow leading up to the 1987 drop - showing its distance from the 55-week average and the collapse once it crossed... (via Citi)
here is an unnamed stock's price action (percentage change) over the past three years...(via Citi)
and AAPL's price appreciation from the lows in 2009 and its 55-week average...(via Bloomberg)
It's not just 1987... Here is the Dow analog again the 1977-78 period and 1905-1910 period... (via Citi)
and the Dow Transports are playing out a very similar pattern to the 1960s-70s... (via Citi)
And a Bonus Chart - for those who prefer to look at Bond Analogs... Here is the current move in 10Y US Treasury yields overlaid on 1992's movement... spooky no? and somewhat fits with a view of weakness into year-end, downgrade on debt-ceiling and collapse... (via Citi)
“Everything that needs to be said has already been said. But since no one was listening, everything must be said again.” — André Gide
Charts: Citi Bloomberg and Zerohedge (as marked above for clarification - not all charts are sourced from Tom Fitzpatrick of Citi)
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