A bearish flag setup on SPX – YIKES!!!

A beautiful bearish flag has formed on the sp500 and that does not bode well for the markets.  Essentially this is a continuation pattern that will possibly take SP500 down to 800-900 area.  The pattern isn't validated until it breaks down through the flag portion.  Will be watching this closely

This entry was posted on Tuesday, September 6th, 2011 at 3:03 am and is filed under Financial Markets/History, Original Articles, market commentary. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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