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iPath S&P 500 VIX ST Futures ETN Message Board

  • rpbossman rpbossman Jan 15, 2013 1:36 PM Flag

    Double top in S&P spells market correction due

    Plus war of words starting to heat up. Obama really emphasized the Armegedon we are about to experience in his News conference yesterday. When you see stocks like Apple falling it's the beginning of the collapse. VXX can turn around 30 point in several days. So secure, so confident are the shorts it really is amazing.

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    • It's very poor technical analysis to call a double top when the price has reached the previous top. There is no second "top" until the price has started to pull back. By your logic, every price channel has multiple "double tops" on the way up, which would render double tops useless as a bearish pattern.

      In fact, even if the price pulls back after hitting resistance at the previous top, it could still be a flag or a pennant. It's not a double top until the price goes below the trough formed after the previous top.

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