You people want to see something potentially scary? Check out the S&P500 chart on Yahoo, click
interactive and proceed to the max chart. Unless I am wrong, there is a triple top forming. First Jan of 2000 at 1500, then July 2007 at 1527 and right now at 1513...both 2000 and 2007 ended dropping to around 800. I am not a technical analyst, but could another full blown correction occur like the previous two and drive the S&P down to...dare I say it....800 again? Just curious what the board thinks....thanks for any feedback....
GO San Francisco
Triple top would work some times especially if retail traders don't know. There are many retail traders like you that know about it as I have known for the last 2 years or more.
If it rips through the triple top, S&P will double from where it is and so will DOW. We may enter a period of inflation where everything including stocks become expensive and therefore, stock prices will rise and sky rocket. That's why some analysts are predicting DOW to 55,000.
Look at Greek stock market, they said, it has quadrupled in worst economic conditions known to any modern country.
But I am shor! because I am always shorty pants and I am always wrong!