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[lentinman]

An historical perspective:

The DOW is below where it was 128 (10 years, 8 months) months ago right now. When it was at the low on October 10 (7773), it was below where it was 136 months ago. (11 years, 4 months) - June 13, 1997.

I thought it would be interesting to look at what the DOW did the years prior to June 13, 1997 to see if there is any long term support in there somewhere.

From June 13th to June 13th.

1996-1997 (5657-7782) +38%
1995-1996 (4484-5657) +26%
1994-1995 (3783-4484) +19%

Prior to that, the gains were reasonable. But, IMO, ever since 1994, the markets have been built upon bogus principles, wild speculation, lies, leverage, lack of oversight and boomers.

All that is fundamentally, and "permanently" changing. Given a bad enough economic cycle, it is not inconceivable for the DOW to drop a lot farther than anyone would dare utter - even to 1994 levels.

Len