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Saturday, May 22, 2010

Dow's 3 Peaks & Domed House Pattern

Stock Trader's Almanac (STA) had been monitoring the DOW for the (mini) 3 Peaks and a Domed House Pattern.


Here's the Basic Model of the classic 3 Peaks & Domed House Pattern developed by the late George Lindsay:




According to STA, as at May 20 2010:

  1. Points 24 and 25 may have been made in the DOW Chart;

  2. When the pattern is complete, it is possible point 28 will be located the line draw in the Chart.

  3. Should market fall to last July's low, it would represent nearly 30% decline from April 2010 high.



Wow! Did you notice that many other indices in the World also have Topping Patterns: either Double Top or Head & Shoulders Patterns?


When will Dow drop to point 28? Will point 28 be lower than that?


What will happen to the other Global Indices?



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