By Lawrence G. McMillan
No two markets are ever exactly alike, but there are quite a few similarities between our indicators at the current time and where they stood a year ago – comparing the third Fridays of February in each case. As noted in the Market Comment section, that was the last day (February 21st, 2020) before stock crashed into a violent, short-term bear market. There are a lot of similarities. Of course, this article doesn’t compare other periods in history where there were also similarities, yet the market didn’t crash. Perhaps almost every top has some of these similarities.
Regardless, the following table shows the more-than-passing similarities between where the market was on the 3rd Friday of February in 2020 (on the brink of destruction) and here in 2021...
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