The market then recovered for several months, starting on November 14, with the Dow gaining 18.59 points to close at 217.28, and reaching a secondary closing peak (Beginning on March 15, 1933, and continuing through the rest of the 1930s, the Dow began to slowly regain the ground it had lost. 12,894,650 shares changed hands on the New York Stock Exchange-a record. 0000002318 00000 n Using data from Yahoo! %PDF-1.3 %���� On October 24, "Black Thursday", the market lost 11 percent of its value at the opening bell on very heavy trading.With the bankers' financial resources behind him, Whitney placed a bid to purchase a large block of shares in The next day, the panic selling reached its peak with some stocks having no buyers at any price.After a one-day recovery on October 30, when the Dow regained 28.40 points, or 12.34%, to close at 258.47, the market continued to fall, arriving at an interim bottom on November 13, 1929, with the Dow closing at 198.60.

0000003130 00000 n A scary chart has been circulating for several months on Wall Street, drawing a parallel between the current stock market and 1928-1929. This of course opened up the door for that massive snapback correction.Taking this different approach reminded me of the famous Winston Churchill quote, ““The farther backward you can look, the farther forward you are likely to see.”  I’m all for using past price action to get a feel for what might happen, but it pays to dig a little bit deeper sometimes.I’ll leave you with this, it is what I’ve been saying about those that followed and even those that touted this pattern as a reason to worry.

You’ve probably seen this chart, which compares the market’s gains over the last year to those in 1929, leading up to the crash. Congress voted for a $100 million relief package for the farmers, hoping to stabilize wheat prices.

0000001738 00000 n See the full-sized chart here. 0000001086 00000 n 12,894,650 shares changed hands on the New York Stock Exchange-a record. To put this number in perspective, let us go back a bit to March 12, 1928 when there was at that time a record set for trading activity. This oversupply caused a drop in wheat prices so heavy that the net incomes of the farming population from wheat were threatened with extinction. 0000006864 00000 n My take is the same now as it was five months ago. Noted market-timer Tom DeMark has been talking about it. By May there was also a winter-wheat crop of 560 million bushels ready for harvest in the Mississippi Valley. I must agree, it was fun to talk about, but it couldn’t have been more wrong.In case you forgot or by some miracle you didn’t see it, here’s the 1929 crash chart that earlier this year was everywhere.No question there were some real similarities with the path of the recent market with that of the chart right before the 1929 crash. 0000003756 00000 n Dow Jones - 1929 Crash and Bear Market This interactive chart shows detailed daily performance of the Dow Jones Industrial Average during the bear market of 1929. Although it was the crash of 1929 that gained the most attention, stocks continued to fall for another three years until bottoming out in July of 1932.Backlinks from other websites are the lifeblood of our site and a primary source of new traffic.If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. The falling commodity and industrial production may have dented even American self-confidence, and the stock market peaked on September 3 at 381.17 just after Labor Day, then started to falter after We are reaping the natural fruit of the orgy of speculation in which millions of people have indulged.

Within the UK, protests often focused on the so-called There is ongoing debate among economists and historians as to what role the crash played in subsequent economic, social, and political events. We have provided a few examples below that you can copy and paste to your site:Your image export is now complete. The Stock Market Crash of 1929 It began on Thursday, October 24, 1929. 1929 Crash Chart vs Today Yep, all the Dow Jones Industrial Average (DJIA) has done is move on to new highs, making this chart more a fun trivia fact in the amazing bull market … A funny thing happened though:  it didn’t happen.Lastly, it is worth revisiting one of the main ‘flaws’ with everyone getting all beared up over that 1929 crash chart pattern.

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