July 15, 2010

Broadening Top of S&P 500

UPDATED CHART
  • BELOW CHART WAS POSTED YESTERDAY. 
  • AND THE PATTERN HAS WORKED PERFECTLY

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  • Broadening top formation in S&P 500 15 minutes chart.
  • I am calling it a top because it has come at the top of the trend. And the main criteria for this to work is that 1101 should not be breached or an hourly close above that should not happen.
  • If the index fails to cross today's high and starts to come down that should be the first sign of weakness.
  • The pattern will become invalid above 1101.
  • DOW JONES FUTURES WITH HIDDEN NEGATIVE DIVERGENCE

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