AWARDS
The internal dynamics of market structures are fractal, and a characteristic of this structure is that markets crash unpredictably.
Notice the many sharp spikes higher as the crowd "bought the dip." The initial dip was bought with all fours, followed by a secondary dip to a new low, which was immediately bought, generating a euphoric high signaling "all clear, buy buy buy!" until this too reversed. This was followed by a final manic "buy the dip" that led to a double top. Once that had run its course, a stepped decline began that lasted several years. The index finally bottomed out after losing about 80% of its peak valuation.
