This year's S&P 500 looks just like 2011's rebound

A trader works on the floor of the New York Stock Exchange.
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The market is down 8.6 percent on the year with increased volatility we haven't seen for years.

One technique chartists use to predict what the market will do next is by looking for historical patterns and corollaries that match recent movements.

Investment legend Paul Tudor Jones famously called the stock market crash of 1987 by comparing the chart pattern similarity to 1929.

Bespoke Investment Group in a note to clients Monday afternoon compared this year's market pattern to the one in 2011.

"In both years, the market was relatively flat over the first seven months of the year, but then saw steep declines in August. In 2011, the S&P bounced off of its August lows but rolled over and made a lower low at the end of September into the start of October." — Bespoke Investment Group

Here is the chart comparison below and what happens next...

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