Thank you sir may I have another?
Well above the 2000-2002 Bear Market Bottom (but not fully recovered from the 2000-Peak), here's an extensive Light-Correction from 2004.
Having climbed 41.03% off the May-03 bottom, 2003 had just ended the year with a 26.38% gain, and heading into 2004 we were still making new highs.
So for the setup, Jan-04 had just given us a fresh new high, with Feb & Mar giving us a pronounced V-shaped Double-Top. Although we were still making new highs it was also "perhaps" apparent momentum was declining.
In 13-sessions we processed a swift -5.67% pullback (yea it happens) then headed right back up to re-test the highs only to pullback again with another 29-session -5.78% pullback. Fool me twice shame on you, how about a 3rd -5.24% pullback? Technically speaking we could call this one -8.13% pullback, since we never did recover from the first drop, but gosh darn that must have been a frustrating 110 session drawdown.
Like 2024's 23.31% gain, 2003's 26.38% gain was a double-digit winner.
___For reference, over the past 63 years we've had 3-Triples & 14-Doubles.
Like 2025, 2004 had both a Jan & Feb peak (but 2004 held ground until 4-March).
For 2004's 110-session drawdown, in 2025 terms this would put our yearly bottom at 29-July.
From what I've read/heard, 2025 expectations were to be a sub 10% year, while 2004 closed at 8.99%
