Bloodshed Coming: The Market is Now Sending Numerous Red Flags! Double Top In The NYSE Now In Place, With Margin Debt Sky High?
May 31st, 2013
Stocks are on the edge of a cliff.
As you can see, the S&P 500 has failed to breakout to the upside and is now sitting on support. If we take out 1650 we could easily to for 1600 in short order. And if we do indeed break down through the rising wedge pattern (indicating that the move to the record highs was a false breakout) we could see a drop down to the mid 1400s.