cd_vision (![[info]](http://l-stat.livejournal.com/img/userinfo.gif){kind=small} cd_vision) wrote,@ 2009-07-10 09:16:00 |
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The market has dandruff
So I guess the people who use charts to guess price movements are concerned about a pattern that's developed in the S&P 500 over the last 3 months. they call it a head and shoulders pattern, and believe that the market is about to head downward. You can see it on this chart:
http://finance.yahoo.com/q/ta?s=SPY&t=3m
Since people will sell stocks believing this, the thing tends to become a self-fulfilling prophecy. There might be some good buying opportunities coming soon.
I've got some charts people in my friends list, anyone care to comment on this?
So I guess the people who use charts to guess price movements are concerned about a pattern that's developed in the S&P 500 over the last 3 months. they call it a head and shoulders pattern, and believe that the market is about to head downward. You can see it on this chart:
http://finance.yahoo.com/q/ta?s=SPY&t=3m
Since people will sell stocks believing this, the thing tends to become a self-fulfilling prophecy. There might be some good buying opportunities coming soon.
I've got some charts people in my friends list, anyone care to comment on this?
