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Saturday, July 9, 2011

DOW 3Peaks Domed House Pattern Update

Have you read Stock Trader's Almanac's latest update on DOW's 3 Peaks Domed House Pattern?


A picture is worth a thousand words!



The picture is taken from STA's update July 8 2011 with a downside target of 10,000 (pt 28) if 11,555 is broken.



I superimposed the Basic 3PDH Pattern, added those items in bold red. Can you see the neckline for the "mini Head & Shoulder Pattern"? Are we now at Point 25 or 27? Can you see a potentially bigger Head & Shoulder Pattern? Oops! One Head at a time lah!



How long will this take to form?



Straits Times Index took sooooo loooong to forming....zzzzzz



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