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Many investors try, especially now, to find some comparable historical period to compare today’s action. If we’re in a true recession then we might look at the 1974 period which is when I started in the business. If it resembles today’s market in any way, it might be the October 1973 bear market rally.

Every market has its own unique signature and issues. But, I remember that recession well. If you think we have problems in the US today, that period was difficult with inflation building, war and the president’s resignation. The important thing is we got thruogh it.

That will do it for today. Clearly market internals don’t reflect strength but I was impressed by the furious comeback in the NASDAQ into the close.

Let’s see what happens next. Have a pleasant day.

Disclaimer: The ETF Digest maintains positions in TLT and TBT.

Source: Tuesday Outlook: Commodities, Emerging Markets