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What is a Megaphone Top Pattern - More importantly - What does it mean?
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[QUOTE]Originally posted by Relentless.: [QB] http://www.trending123.com/patterns/reverse_symmetrical_triangle.html "[i]Underlying Behavior The creation of the pattern reflects a period of time when bulls and bears are battling to gain control of the stock. The pattern occurs after the bulls have been charging and driving the stock price appreciably higher. During the formation of the Megaphone Top, however, bears are exerting increasing influence on the stock and causing it to set a series of lower lows. The increasing volatility eventually creates a sense of uncertainty, leads to profit-taking, and deters some of the bulls from making any further commitments. [b]The bears eventually triumph.[/b][/i]" Does that sound familiar? It should because it explains the last decade and a half of the DJIA. We will call the "Bulls" in this case The FED. The ever-printing Fed... The "Bears" would be just about everyone else. [/QB][/QUOTE]
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