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Direxion Daily Financial Bear 3X ETF Message Board

  • ihawk38 ihawk38 Aug 11, 2009 2:25 AM Flag

    Megaphone (broadening) top for SP still there

    Go to Trending123 and read the desription of this formation. The SP is fitting it to a bill right now. Being that September is historically the worse month for the market this pattern could play out to the tee.

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    • Don't go all in yet hombre...

      I post this a week ago -I repost for you...

      Today (AUG 4th) we see a break and close above the upper trend line of the Broadening Base -the pattern historically with about 50/50 chance to break up or down...

      If breakout is confirmed then the calculated target would be 1073

      What we see is a Broadening Base that we trade at or ABOVE -specifically termed a Broadening Top only because it follows an uptrend NOT because a reversal was or is imminent -Capiche?

35.46-0.73(-2.02%)May 27 4:00 PMEDT