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Opinion
Matt Levine

Some Lines Say Maybe the Stock Market Will Go Down

This is what passes for technical analysis around here.

A portion of the financial internet spent a portion of yesterday discussing a pretty silly chart showing that the performance of the Dow from 2012 through now has been exactly like the performance of the Dow from 1928 through September 1929, and since those who do not learn from charts are doomed to keep drawing them, that means we're headed for an October 1929-style crash. Here is a link to the canonical presentation of the chart, but I have fallen into a bit of a rabbit hole and have recreated it myself, so here you can see my chart:

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