I hope everyone is enjoying this bounce off of the recent lows …. I thought I would f*ck with everyone's minds some more by putting up a comparison between the S&P500 index currently and the topping action in 2007.
The reference points line up pretty nicely in terms of days from the starting point (end of the correction going into the last rally). I extrapolated forward the 2007 pattern to get the projected dates along with the index levels. The new high in 2007 was exactly 1.0% above the previous high … very acceptable as a double top retest.
Cheers … Leaf_West
