Couple of days ago i watched as one of these rare diamond formations more seen on forex charts, formed on the SPX daily and broke to the upside. A similiar pattern now appears once again and if the structure of the last one is anything to go by, this one is the opposite. For this to go through on the down side i would like to see a test of approx 1001.42 followed by some selling which breaches the trend line from yesterdays bottom (994 ish today) and fills in the gap from the 3rd Aug at approx 888.43 .However if this market gets to 1007, we all know what that means.....
