A review was done on the S&P500 1961 to 1969 and 2020 to 2024 charts based on a brief comparison of their structures. It appears there are general similarities in the structures relative to price movements. What is notable are the Fibonacci structure similarities related to the 1966 and 2022 declines. After the 1966 decline the S&P500 moved up to the 161.8 level in 1968. A similar move appears to be in progress following the 2022 decline. Based on current structures this would result in a move up to the Fibonacci 1.618 range of 5648 before moving lower.
The following is a comparison of data between 1961-1968 and 2020-2024.
1961 – 1968
- December 12, 1961 – June 25, 1962 = 29.30% decline
- June 25, 1962 – February 9, 1966 = 84.45% rise
- February 9, 1966 – October 10, 1966 = 23.69% decline
- October 10, 1966 – September 25, 1967 = 36.01% rise
- September 25, 1967 – February 13, 1968 = 11.77% decline
- February 13, 1968 – December 2, 1968 = 26.10% rise
2020 – 2024
- February 19, 2020 – March 23, 2020 = 35.41% decline
- March 23, 2020 – January 4, 2022 = 119.84% rise
- January 4, 2022 – October 13, 2022 = 27.53% decline
- October 13, 2022 – July 27, 2023 = 31.94% rise
- July 7, 2023 – October 27, 2023 = 10.92% decline
- October 27, 2023 – March 28, 2024 = 28.29% rise
Charts courtesy of StockCharts.com.
