Yeah or triple top.. ha TA is ultimately reactive to the...

Yeah or triple top.. ha

TA is ultimately reactive to the underlying fundamentals.


What would the fundamentals be that can justify share prices and market indexes going higher???
- "Santa Claus Rally...."

Fundamentals for share prices and market indexes going lower,
- Decline in world growth
- Decline in manufacturing and production
- Decline in consumer spending
- Decline in corporate profits


Pretty easy to see that it will go lower from here, with the occasional news driven bounce..

All indexes are heavily oversold right now so a further big fall from here would need a substantial "bad news" driven story to be able to send sentiment and share prices lower..

Look at the bounces from the previous 2 touches of that support area.
How quickly did they bounce?

Price has struggled to even stay above that support line on the 3rd attempt...
That's a bit telling, almost as if price is just waiting there for the next "bad news" story so it can go down further.

I don't discount a short term "good news" driven spike up here either but all this will be is another perfect shorting opportunity just like the last 3 and then that should give us the momentum from all the new longs to go lower.