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Investors who were around in 2009 might be having déjà vu this year.
That’s because the S&P 500’s run so far in 2020 has eerily tracked the market’s path in 2009, with similar dips and recoveries, strategists have pointed out. Randy Frederick, Charles Schwab’s vice president of trading and derivatives, is one such prognosticator who has long highlighted the roadmap’s accuracy this year—and even he is a little surprised.
“Amazingly, it never really deviated for more than just a few days,” Frederick tells Fortune. “I always expected it eventually to break down but it frankly just never did.”
What’s more, with that pattern having continued “a lot longer than I thought it would,” Frederick says, he believes “it’s pretty late in the game to think it’s going … Read the rest...