Prices fell again, for the fifth decline in the last seven days. This negative chain started the day after the market scored its last record high on April 2. We believe these actual losses generate a near identical path of the time profile at the end of the last bull market, in October 2007.
Today’s diagram -updating the last one published just days ago- continues to document this parallel. Moreover, the length of the current expansion, now at 1,281 days compared to the 1,154 days of the 2003/2007 growth cycle, provides a further reason to the assumption that prices could turn down.
DJIA -.89 percent
NASDAQ -1.34 percent
S&P500 -.95 percent
