8th Sept 2011–Pattern Study– Crash & Dead-cat Bounce ??!!

Ticker:

 

1. SPY

 

Topic:

 

1. Can the Head-n-Shoulder crash at the start of Aug be actually predicted?!
2. Is it a dead-cat bounce now?

 

Lesson Learnt:

 

1. The daily MACD and OBV in the daily SPY chart on 9th July 2011 has shown downturn is coming.
2. 9th July was the top of the right shoulder.
3. We are definitely not out of the wood yet.
4. Why I did not see it???:
1. I did not pay enough attention to MACD and OBV on the daily SPY chart.
2. I was not willing to accept that bear has stepped in when SPY crashed from the head-n-shoulder formation.

5. Comparing the 2 charts now, it looks like we are having some kind of dead-cat bounce.
6. Yes! The Crash has been warned!

 

Intraday Chart

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Historical Chart