Saturday, October 11, 2008

Dow Performance In First Year Of Major Corrections

The Chart of the Day published an interesting chart on the Dow's performance in the first year of corrections going back to 1900. They note:
"The first year of the current correction has been more severe than the first year of any correction since 1900 -- and that includes the correction that began in 1929.

[October 9, 2007] also marks the one-year anniversary of the current correction. The Dow put in its record high of 14,164.53 back on October 9, 2007. Today [October 9, 2008], the Dow closed at 8,579.19 -- down 39.4% from its one year old peak."

I would like to think the selling is over done and we are at least due for a bounce.

1 comment :

PRD trader said...

If Dow is forming a head and shoulder pattern,then we are almost done down trend.