Nov

22

Noted today on Bloomberg: 'Fractal analysis of similarities to 1929 is available to "analysts".'

Anatoly Veltman writes: 

Bloomberg's red line of 1929 is showing much steeper exponential rise "coming". Coincidentally, when RobinHood (more exactly, Peter Borish) began following the 1929 analogue in the early 1987, they decided to go Long first and capitalize on the blow-off that "was coming" first.

In my view, the main issue with all this is not what many think. Those who think this is ALL mumbo are not entirely correct. Chart developments do serve to illustrate participant psychology, which may well indicate over-doing the upside and thus setting up the downside. So that solitary aspect is indeed pro-analogue. My anti-analogue argument is NOT that human psychology has dramatically changed over past century - it has not. The issue I see in 2013-2014, which was not a factor in 1987, is that today's market is not driven as much by human psychology as it is by machine psychology!


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