Lipstick on the Dow

I borrowed this chart and comment from Chris Kimble. It gave me a chuckle, so I thought I would share it. Since we are out of the stock market at the moment we have the luxury of poking fun at it.

(Click on chart to enlarge it for easier viewing)

Chris comments: Does lipstick change the looks of this pattern? It could take just one day to make the potential Head & Shoulders pattern one for the record books! "Catch up" isn't something that you dip your French fries in. It's, among other things, the fact that equities can "catch up" with the fundamentals in a blink of an eye!


Definitions:

Head and Shoulders Pattern
  
This pattern suggests that lower prices may be ahead. This chart pattern does not guarantee a decline, but none-the-less it is worth paying attention to.