A few weeks ago, a group of technical analysts have been making bearish calls based on formation of classic textbook Head and Shoulder pattern. Unfortunately they were caught by storms(surprise???). At this stage, I will be very careful with technical analysis. To me, this pattern will be more meaningful once we have entered a prolong bull run. To those looking for S & P 500 at 400-500, I will see you in 2012, just a joke for now.
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