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Pastimes : The Philosophical Porch

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To: Rarebird who wrote (4285)	7/28/2009 10:46:13 AM
From: Real Man	of 26251

This is a chart pattern that I see possibly forming for SP500, the last leg of it. It's a broadening top, or megaphone top, a very bearish chart pattern seen prior to both 1987 and 1929 market crashes. It is not confirmed yet, but it will be confirmed if this last leg declines to the lower declining trend line, around 850. So, if 880 is taken out, there will be a bounce from 850 to 880, then duck and short the Hell out of these markets. If the pattern is confirmed, it will possibly imply a crash of SP500 to 720, as bad as it sounds. The broadening top is a rare market crash pattern. trending123.com

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