The S and P 500 Showing a Major Topping Pattern
Wednesday, July 7, 2010
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If you look to the Chart below you will see most evidently the major top I speak of. It is a Head and Shoulders top like the one in my US Dollar Index article’s Daily Chart. But this is on the Weekly Chart and therefore shows longer term patterns. This top is considered a long term major top and may play this role for some months to come. The target to fulfill the pattern may be below 950 point for the S and P 500 Index and may well spell the beginning of a long term downwards cycle for the world’s financial markets.
This is the way the Chart looks:
I didn’t know that.