Baxter had three darts to win the match but Van Barneveld clinched victory with double top.
The Relative Performance or RS line violated its uptrend in late October before the double top was completed.
There is next important support sits at 8, 700, with downside targets from the double top in the 8, 500 area.
Finally, the market takes out its double top of 2000 and early 2007 as the public comes back in.
This weekly chart of Kimberly-Clark Corp. ( KMB) shows what appears to be the formation of a double top.
Oil put a brief double top in on Thursday as it pushed through and failed on that pipeline explosion report.
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The increase in volume last week is consistent with a double top.
The NYSE Composite rallied back to its Starc- band on Thursday, and the bearish interpretation is that it is forming a double top.
The potential double top formation, points 1 and 2, is quite clear on the daily chart as is the key support at line a.
There are many articles on the classic characteristics of double top formations and the 1948 technical analysis classic Technical Analysis of Stock Trends from Robert D.
Often times what appears to be a double top or bottom on the daily chart turns out to just be part of a continuation pattern.
To confirm a double top formation prices often need to decline significantly from their highs and stops above the previous peak can make the risk uncomfortably high.
With this approach you can find a low risk entry point if a true double top is being formed, but also can profit if it is just part of a continuation pattern.
On the upside, the previous double-top area near 1.0585 could stymie any further move up.
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The Dow Industrial Average did not follow transports and had a double-top around 12, 750 on July 7 and July 21.
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This makes its double digit top-line growth registered in the last two quarters of 2011 achievable in the third quarter as well.
That has produced significant near-term technical damage to also suggest a bearish double-top reversal pattern has formed on the daily bar chart.
Some fresh near-term technical damage was inflicted Thursday to raise the specter of a bearish double-top reversal pattern forming on the daily bar chart.
If there had been good follow-through selling pressure Thursday, then a bearish double-top reversal pattern would have been confirmed on the daily bar chart.
Even though the May 2 highs were above the February 18 highs, I would say that confirming negative weekly charts will confirm a double-top.
As price stalled at this technical double-top, it appears traders seized the opportunity and sold out of at least a portion of their previous long positions.
Prices are now in a three-week-old downtrend on the daily bar chart and the specter of a bearish double-top reversal pattern on the daily chart has resurfaced.
The next chart shows that global markets as a whole topped out with the U.S. market a couple of weeks ago (leaving a potential double-top in place).
The solid price gains Thursday morning are a good sign for the bulls that the potential double-top reversal will not be confirmed and that prices will continue to trend higher.
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But the bulls do not want to see follow-through selling pressure on Friday to produce a bearish weekly low close and raise the specter of a bearish double-top reversal pattern forming on the daily bar chart.
No chart damage has occurred recently, but the bulls are still a bit worried about the specter of a bearish double-top reversal pattern forming on the daily bar chart, if gold prices show more losses this week.
No chart damage occurred Monday, but the bulls do not want to see good follow-through selling pressure on Tuesday that would likely produce some near-term technical damage and raise the specter of a bearish double-top reversal pattern forming on the daily bar chart.
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Still, we think valuation multiples will remain depressed until CSCO proves it can generate consistent double-digit top line growth.
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