Tag: Double Top
Please Don’t Call It A Double Top in the S&P 500
It seems like every time the market approaches a previous level of resistance the “double top” callers come out in force. There is nothing wrong with correctly identifying this reversal pattern, the problem is that a double top has not formed in the $SPY. Look below at the chart of RedHat ($RHT) this stock formed … Read More
S&P 500 Analysis for January 15, 2010
Please don’t call it a double top yet… In order for a double top to form, the market has to reach resistance in the approximate level as a prior peak, which it has done. Next, the trendline should be broken (not yet and now near 114) and most importantly for a true double top it … Read More
S&P 500 Analysis for January 15, 2010
Please don’t call it a double top yet… In order for a double top to form, the market has to reach resistance in the approximate level as a prior peak, which it has done. Next, the trendline should be broken (not yet and now near 114) and most importantly for a true double top it … Read More
