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July 05, 2010

Markets Repeating Head and Shoulders Pattern of Great Depression

The pattern consists (to the extent I understand it) of attempting to test new highs, finding no support for such highs, and then testing new lows; once the market finds no support at the higher head and shoulders peak, it falls rapidly to a new lower level below "the neckline."

And that's not a good thing.

“Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that developed before the Depression in 1929, then with the recovery in 1930 we had another head and shoulders pattern that preceded a fall in the market, and in the current Dow situation we see an exact repeat of that environment,” Guppy said.

Unexpectedly, we should say.

But Always Keep In Mind What's Really Important In Life:

Thanks to "plonked" for that.

posted by Ace at 02:51 PM

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George Will » July 05, 2010 Markets Repeating Head and Shoulders Pattern of Great Depression The pattern consists (to the extent I understand it) of attempting to test new highs, finding no support for such highs, and then testing new lows; once the market finds no support at the higher head and shoulders peak, it falls rapidly to a new lower level below "the neckline." And that's not a good thing. “Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that developed before the Depression in 1929, then with the recovery in 1930 we had another head and shoulders pattern that preceded a fall in the market, and in the current Dow situation we see an exact repeat of that environment,” Guppy said. Unexpectedly, we should say. But Always Keep In Mind What's Really Important In Life: Thanks to "plonked" for that. posted by Ace at 02:51 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments [i]Krebs v Carnot: Epic Battle of the Cycling Stars (TM)[/b][/i][/s][/u]: " James Earl Carter was a meddlesome twat ... The ..." scampydog: "June Lockhart in Lassie. What the hell is wrong ..." Citizen Cake: ">>>The natural gas thing was among the regionally ..." 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