The Last Time This Happened Was October 1929…
While this week had many superlatives – like being the fastest collapse from peak to bear market ever, fastest credit spread decompression ever, biggest weekly jump in VIX ever, and largest 3-week decline in oil prices ever – one stands out as rather more ominous than others…
Three of five days this week made the list of top 20 daily gains of losses in history…
Top 20 biggest daily gains and losses back to 1926.
3 of 5 days this week made the list!
29, 32, 33, 87, 08, 20 had weeks with multiples.
All led to profound changes in either markets and/or the economy.
I suspect 2020 will too. What that will be is still a work in progress. pic.twitter.com/qzKV0OkKl7
— Jim Bianco (@biancoresearch) March 13, 2020
https://platform.twitter.com/widgets.js
But even more unusual this week was the fact that the market had back to back 9% swing days…
The last time this occurred was the three days ending October 30, 1929…
And this is what happened next…
But it could never happen again right?
Tyler Durden
Sat, 03/14/2020 – 14:45
Zero Hedge’s mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information’s unending quest for freedom. Visit https://www.zerohedge.com