The Dow Jones Monthly Chart I previously published has a broadening top pattern, the S&P
doesn't have the same outlook and I'm sure many were looking at the S&P
Monthly as a triple top however what I'm seeing instead is a rising expanded wedge
or Expanding pattern which is a very bearish pattern
on the stretched out Weekly. In its formation since late 2009
, you can see how its making it's way to the upper resistance level trend line
again. Maybe 1800-1850 we will start seeing signs of topping. 1900 would be maximum for this to still be valid. I have seen this pattern play out many times in various markets and when they do play out, the end result is a devastating fall. We'll see if there is a fundamental catalyst for this to get started.