9/23/2026
In 1929 and 1987, the markets rallied into late summer. The markets then sold off for a month. A two week rally followed. Then the markets turned down eventually into a crash.
The markets appear to be nearing the end of that two week rally. The big gains early this week are being erased.
All 12 measures above are in the red. This analogy may just be far fetched, we;ll see.
Crude oil found some footing at the $90 level. Trump's threat over Iran in his UN speech have been made far far too often. Iran is surely aware of our weapons shortage,extended deployments, and other problems. Again, we'll see.
the ten yearr note rose to 5.136%, a new high for the move. Markets are aligning with higher interest rates and oil prices. see our graph of the three DOW components in the last post. Markets do not all top at the same time. SPX NASD NDX are topping at different times as well.
We will continue updating on what we think will be a substantial decline this fall, one way or the other.
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