Archive for August, 2011
Lamentably, analysis coming true…
Posted on Aug 02, 2011 by WHC Bassetti.
Today on an impressive (if not depressive) power bar down SPX prices penetrated the neckline of what appears a head-and-shoulders formation. In our last letter we explored the possible implications of completion of this formation, detailing various targets for a downwave. We calculated the targets using a bevy of technical analysis techniques and now is a good time to remind readers that the targets are an analysis, not a guarantee or a prediction.
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Noted technical analyst WHC Bassetti has over 40 years' experience in the financial markets and is Malcom S.M. Watts III Adjunct Professor of Finance and Economics at Golden Gate University. He is editor of the Ninth Edition of Technical Analysis of Stock Trends, widely considered to be one of the true classics of market analysis.
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