Replacing the baby boomers' hips and knees looked like an ironclad growth story, but early 2005 brought a broad cooling across premium medtech. Sellers were not finished yet.
Daily #56 stock chart answers — August 29, 2026
Five anonymised historical charts were dealt to every player. The Monkey Index returned +0.12% across the same tape.
82 desks completed all five charts.
Supply chain snarls and raw-material inflation were squeezing margins across consumer staples, leaving defensive giants firmly out of favour. Sellers were not done yet.
With the credit crunch spreading, the market feared an advertising slump would drag the search giant down with the banks. This was the brief summer bounce before the autumn crash.
The historic post-crisis settlements were finally clearing, but with interest rates pinned near zero, the market still doubted whether big banks could produce real earnings. The rally paused for breath.
Bear Stearns had just been rescued and the market convinced itself the credit crisis was contained, sparking a fierce spring rebound across heavy industry. The relief rally still had legs.