2008 wasn't a bubble so to speak. It was driven by de-levering contagion.
You'd do better to apply it to a 2001 tech index.
The difference is a bubble is driven by greed, and "greater fool" behaviors turning to fear and panic selling. De-levering contagion is driven by a position going down triggering margin calls which necessitate selling other positions which drive down prices which furthers the cycle.
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2008 wasn't a bubble so to speak. It was driven by de-levering contagion.
You'd do better to apply it to a 2001 tech index.
The difference is a bubble is driven by greed, and "greater fool" behaviors turning to fear and panic selling. De-levering contagion is driven by a position going down triggering margin calls which necessitate selling other positions which drive down prices which furthers the cycle.