Today's Qs Are Nearly Identical To Pre-Crash Nasdaq 1987

Started by CrackSmokeRepublican, October 17, 2009, 09:17:35 PM

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CrackSmokeRepublican

October 17, 2009, 09:17:35 PM
October 17, 2009

Today's Qs Are Nearly Identical To Pre-Crash Nasdaq 1987
by Dan Basch
   






Today's QQQQ chart shows a Double Top formation with heavily sloped negative divergences on oscillators, which bares striking similarities to that of the Nasdaq Crash of 1987. The two charts have a nearly identical pattern with the primary difference being the slope of ascent.

First, review the Double Top formation that occurred in 1987 on the Nasdaq shortly before the waterfall decline noting negative divergences on the RSI, CMF, MACD and the ADX. Consider that the technical patterns in all four were correctly indicating well ahead of time that a substantial decline was imminent:

http://www.safehaven.com/article-14752.htm
After the Revolution of 1905, the Czar had prudently prepared for further outbreaks by transferring some $400 million in cash to the New York banks, Chase, National City, Guaranty Trust, J.P.Morgan Co., and Hanover Trust. In 1914, these same banks bought the controlling number of shares in the newly organized Federal Reserve Bank of New York, paying for the stock with the Czar\'s sequestered funds. In November 1917,  Red Guards drove a truck to the Imperial Bank and removed the Romanoff gold and jewels. The gold was later shipped directly to Kuhn, Loeb Co. in New York.-- Curse of Canaan
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