Indeed there are a lot of things that are ending up looking very similar. Following that sudden market drop and recovery last summer, markets really rallied. Helped by the Fed rate cut, then again with the optimism around the Trump victory.
Of course, back in 2007/2008 there was a real catalyst to make the bubble pop and the bottom drop out; starting with the garbage MBS's and impact to the investment banks. So far in 2025, there hasn't been much tangible reasons to the market pullback; just uncertainty around tariffs and other policies. The market does hate uncertainty though, so hopefully concrete direction there will settle things a bit.
Also, there has never been a time where a recession wasn't preceded by an inverted yield curve. The rate curve was inverted for over two years and snapped back to positive just a few months ago (depending on your choice of the 2yr/10yr or the 3mo/10yr view). Although, that doesn't spell certainty of a looming recession, it doesn't give a great feeling, all things considered.
Oh, and those bad monthly jobs reports we saw all last year with constant downward revisions after the fact, with a lot being in the public sector, doesn't help.