Sunday, September 5, 2010

Triangles Over Time



Green and blue Bullish Ascending Triangles with targets in dotted lines based on the triangles's widest distance and applying it to the resistance breakout. Orange, pink & yellow Bearish Descending Triangles with targets. SPX goes back to March 2009=2003=1997.
A closer look at the triangles reveals that there are triangles within the triangles. The "touch pattern" for the current yellow triangle is similar to the orange triangle that occurred during the 2000-2001 Tech Crash (bottom right).

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