WTF Chart of the Day: What Can We Learn From Y2K
By LawrenceI posted the Y2K analog back in January and the striking resemblance keeps giving.
Let’s take a look at an update of this comparison of year 2000 and what happened so far this year.
No comment necessary.
Year 2000:
Today Feb 11, 2014:
Comments
Looks as if the analog is broken with today’s rally, as ES is trading 15 points higher, as compared to the Y2K price action. In another article about this, you mentioned you are a “hidden bull”. Are you a bull after the expected (seasonal) drop towards the end of February? It felt like your bias was bearish for coming few sessions.
Am monitoring closely the breadth readings.
It is not bullish. Can they be wrong? Yeah. 1 out of 6 times, maybe.
What I see is major compression in the various tick indices. Very extreme opposite opinions from the trading crowd. It is rare that we have such reading even in general over all the historical data I’ve got.
Difficult trading environment even for many pros.
I am not really bearish / bullish at this point. More like expecting multiple wild swings until one side give up. Then I can pile on the winning side. =)