The 10/05/24 blog “Analogy Between the S&P 500 in 2007 and 2024” noted.
“It’s possible an important 2024 peak could be made within a few trading days of the seventeen – year anniversary of the October 2007 top.”
The October 2007 S&P 500 (SPX) peak was on 10/11/07. Today 10/09/24 the SPX made a new all-time high unconfirmed by the Dow Jones Industrial Average and the Nasdaq Composite.
The daily NYSE 52 – week highs ($MAHN) chart courtesy of Barchart.com updates the internal momentum.
As of 10/09/24 the 52 – week highs are closer to where they were after the early August mini crash than the SPX high made on 07/16/24. This is a complete disconnect from the SPX new high.
It’s two trading days to the seventeen – year anniversary of the SPX October 2007 top.
The SPX could be on the cusp of a three – month 20% decline.
Four Dimension Trading 