Wednesday, August 5, 2009

S&P500 Broadening Top Pattern (Part 3)

S&P500, Dow Jones and Russell2000 have formed the broadening top pattern, this is a very bearish pattern. As I mentioned before if S&P500 moves above 1050 this scenario won't come to play.

Related topics:
Broadening Top pattern

Bulls might want to check this out:
Bulish scenario, Inverted Head & Shoulders Pattern