Descending Triangle Continuation What Stockcharts shows is this chart and has this description, "The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns. Regardless of where they form, descending triangles are bearish patterns that indicate distribution."I got to looking at the SPX long term and came up with this. If (somehow) we top here, QEII is a dud and we get some sort of catalyst that will keep the Fed funding from pumping the HFT bots; this hair brained idea might actually work. Bottom line is this is a possibility, and I had to throw it out there. I'm only willing to speculate to the end of this move and no further at this time. The other options that exist that are not charted are 1) a ramp to 15,000 as QE to infinity could be in play, or 2) the market simply implodes and disintegrates to dust as it rightfully should.
