Help with pattern.

[GlassOnion 12]

Hi all

 

See the attached monthly chart of the S&P500. This chart pattern seems to be an expanding triangle many say it only occurs at the end of major trends. Any triangle experts out there have any views.

[lo574 10]

Going back over history, you'll see similar patterns have repeated. Take the 1970's for example. SPX_1970s - StockBuz We saw a similar setup. What matters is the direction of the trend break. Ask yourself; have people stopped putting money into 401ks (?). Are business and credit collapsing? and you can guess the ultimate direction. Sure, shorter term moves may see corrections (buying opportunities) but the trend is still up.

[Patuca 13]

Hi all

 

See the attached monthly chart of the S&P500. This chart pattern seems to be an expanding triangle many say it only occurs at the end of major trends. Any triangle experts out there have any views.

um...yes ....imo ..time for a big move south...pattern says major trend reversal ....bulls will be crying..i myself would count on it...south is the direction..imo...

[lo574 10]

Mean reversion after a nominal high is a wonderful thing. Buy more at lower prices

[Patuca 13]

LOL you must be careful reverting back...the markets can be REAL MEAN...as we shall soon see......

[Patuca 13]

um...yes ....imo ..time for a big move south...pattern says major trend reversal ....bulls will be crying..i myself would count on it...south is the direction..imo...

well patuca you were right....

 

Thanks

 

Patuca