A major Bearish Harami pattern has formed today on the charts,...

A major Bearish Harami pattern has formed today on the charts, which is a clear indication of the things to come. IMO $1 is not that far. Anyone looking at a low risk entry point should just wait and watch.

For the last 3 weeks what we have been witnessing is the SP bouncing after hitting that crucial 200 day SMA. Its about time this level should be convincingly broken. I do not agree with any of the chartists opinion here, who are exepcting a turnaround at this level.

As I said in my earlier post, the last "Wave" is yet to come which will push the SP below the 200 day SMA and see it hitting its lows.

Mitta and Bone your charts are really good, its about time you learn how to interpret them.

Cheers,