The S&P 500 rallied up to its 200 day moving average only to fail. A mini inverse head and shoulders pattern might set up that will take the S&P 500 to the 1,150 level.
- The S&P 500 rallied up to its 200 day moving average only to fail. A mini inverse head and shoulders pattern might set up that will take the S&P 500 to the 1,150 level.
- The huge head and shoulders topping pattern on the weekly chart of the S&P is almost complete. When the S&P rallies to the 1,150 level, it will form the right shoulder that should cause the markets to crash in the Fall of 2010. The Dow will drop 1,000 points while the S&P drops 150 points to the 900 level.
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