looks like the 3rd break down of a multiple head and shoulders...

looks like the 3rd break down of a multiple head and shoulders pattern is now upon us. A look at the chart shows that the entire bear market has been made up of 3 head and shoulders formation. the 2nd was worse than the first and the 3rd is underway. So I see 2 possible scenarios....

1. the dow finds support at around 9900. this is the 61.8% retrace point of the entire bull market. also there is strong chart support here for almost a decade. I see this scenario as the most likely but i still think low 7000s is the ultimate target.

2. the crash scenario. theoretically speaking, when a head and shoulders breaks down the distance from the peak to the neckline can be projected then below the neckline. the first 2 H&S patterns played out perfectly in this regards and that is why the second fall is worse than the first. The target for this H&S is in the low 7000's. If fundamentals are bad enough and we were to smash straight through 9900 then low to mid 7000's is our target.

Either way whether now or later i see the bear reclaiming the entire bull. 2002 lows of 7289 should be support.

i think LOL