S&P 500 Loses Some Luster
From dshort.com - Advisor Perspectives
December 27, 2012 - 1:46pm
Dec 27, 2012 Dominic Cimino I've recently presented articles which highlighted the S&P 500's current technical parameters. I also presented a possible inverted head-and-shoulders pattern, and suggested, "We should know in short order if the pattern is legit, or if it fails." The pattern did indeed fail, as the market ripped back down through the neckline in relative short order when plans for 2012 fiscal cliff resolution evaporated. However, some technical chart pattern clarity was rendered when a month-long minor-minor bullish trend channel formed, and has subsequently experienced support trend-line failure.More...
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