Scary 1929 Market Chart Comparison

[Dori]

Scary 1929 market chart gains traction

Opinion: If market follows the same script, trouble lies directly ahead

There are eerie parallels between the stock market’s recent behavior and how it behaved right before the 1929 crash.

That at least is the conclusion reached by a frightening chart that has been making the rounds on Wall Street. The chart superimposes the market’s recent performance on top of a plot of its gyrations in 1928 and 1929.

The picture isn’t pretty. And it’s not as easy as you might think to wriggle out from underneath the bearish significance of this chart.

[thundley4]

The current market is fueled by the printing of money and the government effectively buying  it's owns bonds.  Wall Street is doing great, Main Street is still suffering for the most part.

[DumbAss Tanker]

There was some good debunking of this on Varney & Co. today, apparently the scale of the modern line was exaggerated by a factor of four or five to get that visual conformance...not to say it couldn't happen, either, especially with the genius that already knows everything about anything running the country.