![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvQINnbg-KOIjp8XXhrEV90H9TQcsZ0Yl6i68fR16pJi-M3zz8VhcrzLuKReFUNZBbt1AJZFBsUyM4NUXgbki5zzfjuJMOu2xP7YItGWFJSPHVWT75qO_UmvPPSBko8kogvWWtbezTHoo/s320/6.png)
First off, way too many people are counting on the head and shoulders pattern taking the market directly down to 850. Folks, historically these head and shoulder patterns have a success rate of about 50%. A coin toss, in other words. Didn't we learn that lesson last July?
Let’s go now to the charts. We have a large momentum divergence that has developed on the daily charts. (more)
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