Is The Market Experiencing The 1987 Effect?

This morning's chart from technical analyst Chris Kimble triggered in me a flashback to the crash of 1987. I was on an important IBM conference call that afternoon, but all we could talk about was the market. The all-time high reached two months earlier on August 25, 1987 is not the date that lives in our memories, but October 19, 1987, Black Monday, certainly does.