The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: TRINDY who wrote (163058)	11/9/2008 5:24:22 PM
From: Dan3	Read Replies (1) of 306849

Re: Steve Saville has noted that the SPX seems to be forming an inverse head and shoulder pattern, forming a base for a potentially explosive rally. Do you hold any "truck" with such patterns? Cheers! The pattern that I find fascinating is that of a graph of the S&P 500 from 1990 to the present. You can get it here, by selecting "max" as the period in the top graph and then manipulating the sliders in the min-graph under the main one: finance.yahoo.com^GSPC#chart3:symbol=^gspc;range=19900102,20081107;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off There's an amazing decades long double-top formation that is downright scary - it seems to point the S&P to a level of about where it is now, long term, and to about 500, short term. At least to my very inexperienced chart reading eyes. I sure like to hear what anyone with more chart reading experience thinks. The trouble with the inverse head and shoulders is that there are two "left" shoulders - and I'm not sure what, if anything, that means when considering it to be a standard formation.

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