Rare pattern in the S & P ??? - S&P - Nasdaq

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12/29/2009 4:15:54 PM mcserdwar Posts: 0	Does anyone else think that the S & P may be showing a rare "rectangle" parallel channel pattern?
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12/30/2009 4:00:48 PM GTrader Posts: 13	mcserdwar Traders, I am a student and not a professional, use this information accordingly.[/color:59ec93ce5a] The Rectangle Topping Pattern as shown below can be seen in the S&P. [img:59ec93ce5a]http://chartupload.com/images/mw26zq40bntluy3psp8d_thumb.png[/img:59ec93ce5a] Though the current Formation Failed and we are now trading above the Rectangle. The Rectangle Topping Patterns do not work well in Bull Markets. The Current Formation may also be viewed as a Bull Flag and a Cup and Handle Formation, both of which have broke higher. [img:59ec93ce5a]http://chartupload.com/images/p9ygb80q0o5k3lk19f3a_thumb.png[/img:59ec93ce5a] GTrader
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12/30/2009 9:06:47 PM mcserdwar Posts: 0	Thanks for the excellent chart, Gtrader. It illustrated the rectangle channel well. I don't recall anything about rectangles not working well in bulls, but then again my mind ain't what it used to be. Thought they were mainly continuation patterns with a negative bent. Don't see this pattern often in the S & P, maybe because they're hard to sustain in a dynamic, fast moving, volatile market.
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