Thursday, November 17, 2011

Triangle? What Triangle?

Dear God, it has driven me to madness... this drivel about triangles... WHO STILL SEES A TRIANGLE!?!? 

You can see that the S&P futures broke below the 1208.5 low, which proves that the corrective move is done.  You can see it was actually a simple ABC correction that just happened to be constrained by support and resistance that led to the belief that it might be a triangle, which of course could be extrapolated into all kinds of bullish formations.  BUT IT WASN'T!

When you look at other indices it is even more obvious.  The Dow futures never really looked like a triangle, but that never stopped the madness.

In my opinion, it was all a flat.  Maybe if "C" truncated you could say 1-2 1-2...
STOP THE MADNESS!  You look dumb.