S&P500 – The Double Top Pattern = Stock Market Crash?
This is the largest double top I think in the history of techincal analysis. I have seen so many intra day double tops in formations like this, and it seems that they always fall right after this. On the 5 minute time frame, these charts can lose over 1% in a day or few hours.
However, this double top on the monthly time frame seems to me that the S&P500 is going under 350 in the next few months. This means the Dow Jones will be under 4,000! This economic crisis we are in is very real and the best way to deal with this, is to understand this collapse is real and that we got more downside room left.
Duration : 0:7:41
This entry was posted on Tuesday, February 2nd, 2010 at 7:14 am and is filed under stock market. Follow the comments through the RSS 2.0 feed. You can post a comment, or leave a trackback.
no man, your tone …
no man, your tone never changes. You talk like your falling asleep.
February 2nd, 2010 at 7:14 am
I’m not a hippy, …
I’m not a hippy, but I’d rather be a hippie than a fascist.
February 2nd, 2010 at 7:14 am
lol, who gave u a …
lol, who gave u a computer hippy
February 2nd, 2010 at 7:14 am
If we want to end …
If we want to end the stupidity, the one thing that would put humanity back on a sane path is to CLOSE THE STOCK MARKETS.
Traders are parasites, they add NOTHING tangible or worthwhile to our world.
There are many of these USELESS industries…Insurance…bankers…weapons dealers.
I’d happily see them hanged for the damage they’ve done, but just ending their strangle-hold on our world would be enough.
February 2nd, 2010 at 7:14 am
Great!!!
Great!!!
February 2nd, 2010 at 7:14 am
unreal cheers
unreal cheers
February 2nd, 2010 at 7:14 am
I think you called …
I think you called it!
February 2nd, 2010 at 7:14 am
Yes, however this …
Yes, however this is a very long term chart!
Each tick is a month worth of data. So based on this chart it could be over 20 ticks to hit that level which is 2 years.
The fundamental analysis has too much data with the upcoming economic collapse.
February 2nd, 2010 at 7:14 am
I’m not an analyst, …
I’m not an analyst, but I disagree with you to some extent, here’s why. 401K retirement plans continue to push money into the market irrespective of value. Pulling your money out of 401K is not a simple matter, you pay a penalty and close your retirement plan. Until this money shove stops the market will go up and down.
February 2nd, 2010 at 7:14 am
Good job and you …
Good job and you rock dude! I like your style.
February 2nd, 2010 at 7:14 am
good vid man – a …
good vid man – a cycle within a cycle.
February 2nd, 2010 at 7:14 am
It’s a little easy …
It’s a little easy to call this now, but Chicagostock called this in 2006… for more information about his work, send me a message as I cannot post links in here… Thanks and good stuff.
February 2nd, 2010 at 7:14 am
hi there i just …
hi there i just found your videos I into sludge so I was carried here to your network to watch this video re: economy nice video I fav thanks
February 2nd, 2010 at 7:14 am
good video… Sell …
good video… Sell Sell…. Sell… you are right… most people… are taught the wrong things!!! “you buy and I sell” is the motto SEE MY VIDEO
February 2nd, 2010 at 7:14 am
It sounds like you …
It sounds like you have been reading Peter Schiff. I agree with your analysis…great post. I just subscribed to you.
February 2nd, 2010 at 7:14 am
I do agree with …
I do agree with your statement. I still wouldn’t mind for the sake of humanity if there was more time before the collapse and a suckers rally in the stock market so more people can be aware of what is out here in this world. I would like to see based on that S&P double chart for a test of around 1,000 and then fail the 800 and then by Christmas it will be around 600 or 700. However, I only want that, and am not sure of when the implosion happens.
Thank you and peace
February 2nd, 2010 at 7:14 am
You are 500% …
You are 500% correct – but give me credit for pointing this out – You are playing chicken with financial implosion.
February 2nd, 2010 at 7:14 am
If gold is 920/oz …
If gold is 920/oz now and you short the market and make 50% and gold goes up to 960/oz in that same time, then you can buy more gold. The key is to get out of the dollar as fast as you can, but at the same point, you can build up funds to buy stuff while the dollar can still buy products.
February 2nd, 2010 at 7:14 am
great vid – I don’t …
great vid – I don’t think being short will save you IMHO.
Gold & Silver and the only way to profit from this as it is systemic failure.
Just my opinion.
February 2nd, 2010 at 7:14 am
I have read/seen …
I have read/seen three different analysis using the S&P, and all three have come with the same conclusion:
S&P between 350 and 400 before the year is up….
keep up the great work… this is the stuff you don’t hear…
February 2nd, 2010 at 7:14 am
Google “kitco 2009 …
Google “kitco 2009 predictions” sounds like the crash will happen when more retailers start going under and more people lose their jobs. The earnings will be horrible. Spring around May the market will fall sharply with a bigger crash coming in fall 09.
February 2nd, 2010 at 7:14 am
ah.. my 3yr old …
ah.. my 3yr old looks at graphs of the Dow and says “Ouchy!”He is so right…..
February 2nd, 2010 at 7:14 am
Make sure your …
Make sure your holdings are short. If you short now, be very quick as a rally can start to spark soon. These triple funds get murdered if they go the opposite way you are going, meaning if XLF goes way up and then goes back to where it was before you would still be down on FAZ. But, you can double/triple your money in a short period of time. If you want double yields, DXD seems right now better than SDS but they are both profitable. Remember to sell when you have your profits.
February 2nd, 2010 at 7:14 am
Sorry I meant to …
Sorry I meant to say FAZ.. Not FXP…
February 2nd, 2010 at 7:14 am
You suggested SDS …
You suggested SDS in this video…. I already asked you about FXP a few days ago… If I wanted to bet on the downfall of the S&P 500… Which would be a better choice? FXP or SDS ? Or maybe if you have any other suggestions.
February 2nd, 2010 at 7:14 am