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Market Oversold, But Breaking Down From Major Top Means More To Come

Several technical indicators have reached levels consistent with intermediate lows, but key support levels have been broken, and despite some signs of being oversold, the market remains vulnerable to further declines, both over the short run and the longer term as well. The market averages have broken down from an important top, and some long term indicators are on the verge of confirming a major downturn. This report reviews the charts and data as well as new downside projections.

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S&P 500 Chart
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  1. Ole C G Olesen

    When looking through the various charts.. some of which I do not fully understand.. I noticed 1 thing on many of the charts :
    In my opinion there are several ( many ) Head and Shoulder formations .. or Head and shoulder like formations in the charts .. here in the equity charts as well as in the Liquidity charts .. I dont know the exact implication of that .. but have heard they are a sign of imminent crash .. Take a cool look from a distance on many of Your charts and the actual price action of what U ananlyze … could You comment ..please ..

  2. Newswires

    The patterns are there, but whether they work or not depends on the cycle alignments. Clearly, these are working, and that was foreshadowed by the extremely weak cycle alignments that began to develop a couple of weeks ago. I’ll be posting tonight’s update within an hour.

  3. Ole C G Olesen

    Ok.. lets see how the debacle spells out.. i fear the worst..WHY ?
    The USA has began to rattle with the sabre towards Iran …( US amabassador declares that US War plans against Iran are … READY ) to be pulled out of the hat … if financials should get worse … distraction … at any cost ..I believe.
    How would You react if someone declares that it has its war Plans ready… against You ?

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