Bear Flags Everywhere!: $FCX $ACI $AA $SPY
We are noting Bear Flags all over the place. Some have broken down quite a bit, some are just breaking down, and others have yet to break down. Let’s take a look at a few examples…
FCX broke bear flag support at 42.50 and has since tanked. The measured move is 27.50, so there may be quite a bit more downside to come.
ACI just broke bear flag support at 18 and fell quite hard during today’s sell off in the Coal sector. This move measures all the way down to the 9-10 range, so ACI may have some scary downside ahead of it.
AA is starting to break down after today’s push below 11.25 bear flag support. The height of this flag pole is about 4, so AA may be headed to 7.25 (at which point we would start selling Naked Puts like crazy).
Last but not least is SPY. A bear flag is in tact, but has yet to break down. Bear flag support resides at around 111.50, and if it breaks down on strong volume the move measures to 89. That would translate to approximately 850 in the S&P 500, and 8,500 in the Dow 30. Scary thought, but anything is possible in this market.
This is by no means a scare tactic blog. We are simply pointing out a few bearish technical patterns, and sharing our thoughts as to what price levels we are watching in these stocks. If these bear flags do reach their measured moves, there will be some amazing buying opportunities in all of the names mentioned in this post.
rachat credit personnel^rachat credit personnel,credit a la consommation,rachat de credit http://ping.fm/ggreY agpl fcx software php