Rank: Member
Joined: 10/18/2008
Posts: 22
Location: Cape Town, South Africa
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The list of well-known names identifying value on the US stock market at current levels is growing by the day. In the meantime, the S&P 500 Index has been forming a so-called "descending triangle" and stock markets seem to be on a knife edge. The link to a post about this is: http://www.investmentpostcards.com/2008/11/12/stock-markets-which-way-jose/How do you see this?
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Rank: Advanced Member
Joined: 10/29/2008
Posts: 60
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i can see it.... also the volume is decreasing and consilidating not that it is necessary in descending triangle but it is a good sign. things appear to be worse before they get better. the key is determining when the support on the S&P500 will not hold... most likely be really low volume which is what we had today. anyone else want to comment.
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Rank: Advanced Member
Joined: 10/29/2008
Posts: 60
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Looking at this now... this could be the time the market does not turn around. I would wait until confirmation by the dow first
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