"broadening formations are hard to identify"
Its a sad fact that forums like HC can give such a powerful platform to egotistical lamebrains like this. Also sadly that many will be misled by him!
I happen to be related to one of Australia's top Technical Analysts, and when I mentioned this so-called "broadening formation" - he just roared with laughter.
Firstly: Because there so obviously ISNT one!
Secondly: That a 30 yr "vet" of the market would "definitely" call it so!
Below is the broadening formation we recently had. To suggest that we are in one now is nothing short of fraud & fear-mongering. At best, its too early to tell, and any quality TA-er will modestly refrain from making an early judgment. In fact there are numerous tell-tale signs indicating a massive swing upwards is about to occur.
Cheers
foolish for those that think martis is wrong, page-23
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