Now & Then Analog

Here’s a fun item I stumbled upon while thumbing through charts this weekend. Take a look at the daily SPY chart below, which is from late in 2021 into early 2022.Below it may look like I’ve simply repeated the exact same chart, but I haven’t. This one represents the past year instead.In each case we see:

  • A powerful ascent, the red arrow, to a peak, tinted in yellow;
  • A steady reversal of lower lows and lower highs, the b
  • A bottom, tinted in magenta;
  • A powerful bounce higher, almost but not quite as high as the prior peak, which is tinted in green
  • So what happened following the green tint in 2022? Well, thoughtful host that I am, I have provided you this answer by way of this red circle:In other words, if this is a “You Are Here” moment, then being a bear may stop sucking very soon.More By This Author:Really Hot Chocolate
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