Discussion in 'Technical Analysis' started by paysense, Jan 13, 2008.

  1. I'm not real big on Technical Analysis, but when the market reaches new highs then briefly corrects and then jumps, but fails to reach new highs.

    Then it sharply pulls back and again jumps but fails to reach a new high and then further corrects - does this necessarily lead to a new very severe, sharp and quick drawdown?

    Seems we have a 2-headed monster. Or does this pattern just apply to stocks?

    And if so, where do TA specialist see support from here for DJIA?
    S&P 500?