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Monday, July 5, 2010

CNBC : Dow Repeats Great Depression Pattern

According to an Article in CNBC, we have seen this pattern before in the Dow:

"The Dow Jones Industrial Average is repeating a pattern that appeared just before markets fell during the Great Depression, Daryl Guppy, CEO at Guppytraders.com, told CNBC Monday.

“Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that developed before the Depression in 1929, then with the recovery in 1930 we had another head and shoulders pattern that preceded a fall in the market, and in the current Dow situation we see an exact repeat of that environment,” Guppy said."

To Read the Rest of the Article on CNBC Go To:



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