Stock market Crash of 2008: The Dow Jones and S&P 500 have made a major bottom on October 10th and should rally strongly for several weeks before the main bear market trend resumes and the stock markets crash once more. In the 1929 and 1987 stock market crashes, a 50% decline in stocks was achieved and this should happen in the crash of 2008 too.
Asoka Selvarajah is a former investment banking trade strategist with major Wall Street firms such as Merrill Lynch and Bear Stearns.
He covers trading in commodity, stock, stock index, futures, option and forex currency trading from a technical analysis perspective. From day trading to the longer investment time-frame, we look at financial markets from the view of the speculative trader.
Great explanation of the technical aspect. Too bad it suggests more downward pressure.
I just want to say that fundamentals are much, much better than 1929 and 1987, so I wouldn’t expect the same scenario.
Its only months latter we see hes right
The very next day was the single best day in history
And just as he said
It went down shortly after
This is a guy to watch
5* Favorite!!!
Patterns are made… and this is because the smart money continues to do the same thing. Something most traders will never figure out!