92-Years Almost To The Day
Barring any new highs in the S&P, which seems less and less likely, the market has bookended two historic extremes.
September 3rd, 1929, was the peak back then; September 2nd, 2021, is the peak now.
This site has said many times, if we’re doing our job right, whenever the big reversal comes, we’ll already be in position (not advice, not a recommendation).
So, far that has proven to be correct; having gone short via DRV and TZA during the past week.
This down move is still very young. It’s almost imperceptible and could somehow be negated.
However, with each passing day when there’s no attempt or unsuccessful attempts at new highs, downside probability continues to build.
Charts by StockCharts