Sunday, 26 February 2012
*As inspired by original poster (from the Daneric message board) - KBMCK
Looking back over two decades of lunacy
The day to day nonsense that are the capital markets of the western world often lead us to lose sight of the bigger picture. Even a 5 year view is often too close to grasp the grander cycles. Stockcharts allows us to look back 20 years (I wish it was further!).
The Renko chart style was used by user KBMCK this weekend, and I've taken it, and added a few small notes of my own.
Its certainly a chart I intend to refer back to again later this year. If the doomster case is correct then the NYSE should be under 5k, and it'll be 'game on' for the permabears. Of course, if we are consistantly above 9k, then the H/S pattern - for this bubble is arguably busted, and we could easily spiral upward in an inflationary lunatic move inspired by none other than the Bernanke himself.