Several months ago, a chart swept across trading desks highlighting the "scary parallel" between the 1929 market and what was happening in the market environment earlier this year.
While their trajectories appeared to track one another, critics noted the construction of the chart was deeply flawed.
Now, that comparison doesn’t look so frightening anymore. the comparison is officially dead.
via Birinyi Associates.
As the image below shows, the parallels between 1929 and today no longer exist.