Today S&P500 is technically broken...very ugly
A very ugly chart below....
S&P500 is still open and trading (intraday chart) but MA50 is broken, Supports 1813 1808 1800 (psychological?) broken ...seems more likely now that 1775 support the big one which defines bulls or bears will be tested in days to come...
So far there's a bearish double top pattern formed...
Looking further into the future...We should watch for a possible complex head and shoulders pattern forming (left shoulders and heads already formed?) ..Caution rather than blind optimism should be noted if the index bounces off the 1775 neck looking to rally again.
I will post my experimental nya200r correction indicator when the data becomes available...
However ...some optimistic news for the Bulls
That image below is my post which I outlined a possible double top at 1813 in December which did happen...but it failed...and that short correction quickly ended with a bullish rally
We now have another bearish double top at 1850...will this one fail as well??????
http://i458.photobucket.com/albums/q.../SampPPOST.png
http://i458.photobucket.com/albums/q...12014intra.png