The 2002-07 move from 7,500 to 14,000 is very much a mirror image of 1962-66 when the index went from 500 to 1,000. The 1962-66 range defined the next 20 years of market action; will the 2002-07 range do the same?
An exact time match would set 2022 (or at least the new Roaring '20s) as the time the next major rally will commence.
Perhaps the "next Great Depression" isn't now - but will hit in time for 2030s, just when 99942 Apophis is making its run on Earth; that surely will be a depressing time!
From an ETF perspective, the Diamonds (DIA) have decisively broken the November low. The current down channel has support in the mid-$60s; a good place for a Zignals Stock Alert for a bounce.
If you have an opinion, make a Call; I'm reserving judgement on this after my last Diamond (DIA) YourCall was stopped out at $82.77 - it still feels too early to make a call but others may differ in their opinion.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts, and stock charts website