Look carefully at the above graphNote that only about 10% was lost from the Oct 6th high to Friday Oct 16th, 1987
the 20% drop was on TWO DAYS ONLY - Oct 18 & part of the 19th
This comparison would suggest a similar event occurring this year on
August 23rd - 24th, & possibly part of the 25th
I know that MANY techs are NOW looking at LATE October for a possible
time frame for the above -But be assured, the energy in October is
NOT there to coincide with that type of market event
IN Addition,
even tho the energy appeared unfriendly in Late July & early August,
it was MISREAD by those who compared it with similar HISTORIC events of the past.
BUT, a more careful interpretation of those prior dates would have revealed
a more benevolent behavioral association. Thus there was NO sell off at that time
Just because we did not fully understand the associational relevance then
does NOT mean the same thing NOW.
Jay
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