Jeff Clark- Jeff Clark: S&P will likely decline 10% by next week

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Jeff Clark: S&P will likely decline 10% by next week

Wednesday, July 15, 2009
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By Jeff Clark in Growth Stock Wire:

Two weeks ago, I warned you about the bearish "head and shoulders pattern" developing in the S&P 500. This was when the pattern was still incomplete and well before the masses – including the talking heads on CNBC – got excited about it.

Last week, though, as the pattern threatened to break, I told my Short Report subscribers it wasn't going to happen. Not yet.

The more likely scenario was for a rally back up to between 893 and 908 in the S&P 500. This would shake out all the newly confirmed bears and get the talking heads crowing about how the head-and-shoulders pattern had failed.

Read full article...

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