The comparison between 2008 and 2022 is impressive so far.

The dashed yellow lines in each chart show the price pattern.

The smaller numbers are the amount of trading days from the respective all-time highs and the larger bold numbers are percentages.

As you can see, the patterns have become even more similar at the recent turning points.

The decline to the recent Oct 13 low took 41 days.

The corresponding move in 2008 took 38 days.

This year the recent low took 195 days from the all-time higher whereas, in 2008, the corresponding low was 190 days from the all-time high then.

Then, as now, prior to the Lehman Crash, the issues were said to be “contained” by the powers that be.

Now, the pension fund issues in the UK (the same which have barely been mentioned in the U.S.) are thought to be “contained”.

360 degrees up from the last Thursday’s SPX 3491 low for the year is 3730.

This ties to a declining trend channel from September 12 in tandem with Phil D Gap from October 7^th.

The market traded there overnight.