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CHART OF THE DAY: ANOTHER PANIC AHEAD?

Good stuff here from The Big Picture blog and the Chart Store.  The current market rally is following the market action during the Panic of 1907 to an eerie extent. If the current environment were to closely follow that environment we would likely be in store for a near-term 10% rally before capping the final leg of the bull move higher.  Ultimately, the market rallied 90% from the bottom before the wheels came off again and the market fell nearly 30% over the following 18 months.  This is an obvious case of data-mining, but as Barry says, it’s also an interesting study in how psychology often rhymes:

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