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NYSE Double Top And Margin Debt Sky High?.

  • Written by Syndicated Publisher No Comments Comments
    June 3, 2013

    The NYSE made an important high 5 years ago this month and then proceed to waterfall in price. Now the rally in the NYSE has it back to that important high, in the same month, 5 years later.

    CLICK ON CHART TO ENLARGE

    At the same time several key emotional highs and lows over the past few years have formed resistance lines, that meet at the same price as the potential double top!

    A breakout of these resistance lines would make this chart worthless….Is the market peaks here and turns down, hard to put a price on what this price point could mean for the broad markets.

    Why could this pattern take on a little more importance? See below….

    CLICK ON CHART TO ENLARGE

    The great chart above was created by Doug Short, it reflects that margin debt is reaching levels where the S&P 500 ended up creating two major peaks over the past 13-years. The high debt situation could increase the odds of how important this technical pattern could be.

    Is ole Scooby concerned about a “Danger Zone” when he shouldn’t be?  Stay tuned!!!

    Images: via Flickr (licence attribution)

    Article republished from

    Kimble Charting Solutions Blog » Double Top in the NYSE now in place, with Margin debt sky high?.
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