Long Run ES: Double Top?

[method 10]

I noticed this today:

 

 

This looks like a classic top patten, but on a large scale. I really haven't put much thought into this and was wondering if we could get a discussion going.

 

If the market keeps falling I may be inclined to put out a short position based purely on technical grounds....but that is just me.

 

Maybe there is more to the 'credit crunch' than what has already been uncovered.....

[JEHs 10]

I have been watching SPY with the same idea:

SPY charts - Traders Laboratory - Professional Traders Community

[davie.d 10]

I noticed this today:

 

 

This looks like a classic top patten, but on a large scale. I really haven't put much thought into this and was wondering if we could get a discussion going.

 

If the market keeps falling I may be inclined to put out a short position based purely on technical grounds....but that is just me.

 

Maybe there is more to the 'credit crunch' than what has already been uncovered.....

 

Personally, I dont think the pattern pushed through. It should have broken the neckline for the pattern to become valid.

[TheNegotiator 13]

Erm, I'm pretty sure it did break davie.d

[Cory2679 11]

Looking at that chart, I can't rule out a double-bottom base...

[Tams 20]

> Long Run ES: Double Top?

 

statistically speaking...

there is no such thing as double top