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re: Current Market Chart bearing Strong Resemblance to 1929's.......
Posted on 2/11/14 at 1:00 pm to TJG210
Posted on 2/11/14 at 1:00 pm to TJG210
quote:
To be sure, as McClellan acknowledged: “Every pattern analog I have ever studied breaks correlation eventually, and often at the point when I am most counting on it to continue working. So there is no guarantee that the market has to continue following through with every step of the 1929 pattern.
If present patterns always stray from historic patterns eventually, then it's not a pattern at all and is simply coincidence.
That's pretty much how I heard that statement.
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