In April 1930 everyone thought the market crash was over and the economy was in a “V” shaped recovery. Equities were flying and some of the zaniness of the 1920′s was returning. A financial crisis then hit Europe and the true leg of the depression started. Does that sound familiar to anything you have seen lately?
If that is the case then I have put together the chart from early 1930 along with where I think we are if we are going to repeat the patterns of the past.
Dow_1930
