FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

posted on 27 August 2017

An Ominous Chart Pattern

Written by , Rick's Picks

Today’s chart shows a broadening top formation that has potentially ominous implications for the aging bull market. This particular pattern is described in the classical Edwards & Magee work on technical analysis, and its track record for predicting important tops is impressive.


Please share this article - Go to very top of page, right hand side, for social media buttons.

My own technical work, using Hidden Pivots, nailed the so-far all-time high at 2488.50 recorded three weeks ago within a single point, but it was inconclusive as to whether that peak would prove to be the elusive Mother of All Tops. The Edwards & Magee pattern cannot predict this with certainty either, but it can surely open our eyes, especially when seen in conjunction with my own work, to the growing possibility that the stock market has already made a very important top.

Click for large image.


It’s always possible that last week’s bounce will continue, producing yet another record high. But if that high should be followed by a lower low, the effect would be to shift the Edwards & Magee broadening top formation onto a chart of larger degree, increasing its possible significance.

If you are not a subscriber, click here for a free two-week trial that will allow you to enter the Rick’s Picks chat room, where great traders from around the world swap ideas 24/7.

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical Investing Post Listing

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.

Econintersect Investing

Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2018 Econintersect LLC - all rights reserved