Here's the latest one from the chartists. I see them drawing these lines on the charts and predicting dire results when this megaphone pattern breaks down which apparently it is guaranteed to do. However the Nasdaq was forming this same pattern at the beginning of the year and actually did break down out of the pattern. But if you'll notice that didn't stop the bull. My guess is that since the commercial players were long their buying was more powerful than the pattern drawn on a chart. "Money speaks louder than lines". Hmm... I like that one :). Anyway I would suggest you just ignore this goofy crap. As long as the commercials are buying then the odds are in favor that bearish patterns are going to keep getting negated.
2 months ago