Harry Dent has dived deep into the charts to compare the current stock market turmoil to the crashes from 1929 and 2000. Here is what Harry has found…
Markets have had support at around 2,530 on the S&P 500 and 23,300 on the Dow. Those were the early 2018 low off the last market crash. And they’ve broken through those levels.
But they still have dropped to levels that definitively say the crash has started.
So, I’ve been tracking the Dow versus the 1929 crash (early months) and the Nasdaq versus the 2000 crash. And I’ve gotta tell ya, this turmoil still looks more like a correction than a crash.
I explain what I’m seeing in the charts, and what I’m watching for in today’s video.
Watch it now.
Markets yesterday came very close to an important trend level on the S&P 500. But the fact that it didn’t break that long term trend line gives me pause.
Tune-in to this important update with the embedded video below (volume off by default – you will need to turn it on):
Harry Dent breaks down the volatility we've seen in the closing weeks of 2018, offers forecasts for the markets in the next few months, and urges investors not to panic…Get more of Harry's research into the market's and the recession ahead in his latest bestselling book, Zero Hour: https://bit.ly/2U1yR0L
Posted by Economy and Markets on Friday, December 21, 2018
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