Tuesday, August 16, 2011

Time to Sell This Sucker's Rally?

Amplify’d from seekingalpha.com

In the 20 year weekly S&P chart below, I've circled 5 significant breakdowns from the last 15 years where the index broke under both its upward trend and sideways support. In two situations, significant additions declines followed. In two situations, significant rallies to new highs followed. So which will this be? I suspect it will be one of the two, and not a sideways consolidation.

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