It appears the 2022 – 2023 S&P500 chart shown below is using algorithms that are repeating characteristics from 1973 with a retracement that is similar to what occurred going into October 1973. Optimism appears in the media today as the markets move higher. On October 14, 1973 it was also noted in the New York Times that the market wanted to keep moving higher – until it didn’t in November 1973.
Stock charts courtesy of StockCharts.com.
