The S&P currently has rallied nearly the same point difference from the lows after the “1987 crash” @216.46, to the highs created in March 2000 @1552.87.
If you take the lows created March 2009 @666.79 known as the infamous “Haines Bottom” (after the late Mark Haines CNBC anchor), to create an equal leg we should get to “2003.20” in the SPX.
“Elliotitians” would call that an “ABCD pattern.”
Today’s highs (at writing) is at 2002.33.
Blake Morrow
Chief Currency Strategist, Wizetrade
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