Thursday, July 1, 2010

'The March 2009 Lows Will Not Hold'

The mysterious technical analyst, stockmarket618, on the current state of the market:

DOW weekly chart Wed June 30 inclusive: showing the head and shoulders forming within the megaphone top pattern mentioned numerous times now. At this stage the target for this leg down remains in the green area and will be updated as this very bearish pattern matures. As mentioned repeatedly since last year, the March 2009 lows will not hold.

1 comment:

  1. Technical analysis, to me, is like religious scholarship-- the more I read about it, the more it comes across as rank, unadulterated BS.