Back on March 6th we relayed the introduction of the index and the Fund:
Announcing Coinbase Index Fund
"...Sign up today for updates and early access to Coinbase Index Fund."
And told a homely little pattern recognition story:
...HT The Hill:Today we see:
Coinbase bitcoin exchange launches cryptocurrency index fund
Speaking of hills, on August 25, 1987 Fidelity ran a full page ad in the Wall Street Journal.
For our younger readers, back in the day full page ads were much less common that they are today and made quite a visual impact on the viewer thereof.
This ad in particular was even more impressive as it consisted almost entirely of a mountain chart of the previous five years of stock market gains, and was very similar in appearance to the one above, soaring from bottom left to top right.
The ad was also memorable because it was printed on the same day the Dow Jones Industrial Average hit its then all-time high, 2722.
52 days later, October 16, 1987, the DJIA had declined 476 points (17.5%).
The following trading day, Monday the 19th the Dow dropped 508 points (22.6%).
The total top-to-bottom flush was 36.1% from the day the perfectly timed mountain chart appeared.
That's what I think of when I see mountain charts, probably not the connotation the marketeers are looking to elicit....
It is simply amazing how often that happens.
