Time to Hit Lick

[HerefordSire]

Head and shoulders with the head around 2001...next stop projects to 57% downward.

 

[HerefordSire]

20 months later and no flattening, curl, or sharp reverse yet....

 

[HerefordSire]

Federal reserve asset usage...notice the double in size. Equity markets started to go up (rallied off the lows) when the brown color started increasing.

 

[HerefordSire]

Notice the #10, 11, and 12 circles in the graphic below showing the Great Depression matched with what famous people were saying. The ones I am pointing out occurred after the initial tank and the economy appeared to be getting healthier, then the market really cratered. Other famous sayings can be read by following the link at the bottom.

#10..."For the immediate future, at least, the outlook (stocks) is bright."
- Irving Fisher, Ph.D. in Economics, in early 1930

#11..."...there are indications that the severest phase of the recession is over..."
- Harvard Economic Society (HES) Jan 18, 1930

#12..."There is nothing in the situation to be disturbed about."
- Secretary of the Treasury Andrew Mellon, Feb 1930

http://www.morgan7.com/depression