While this wide lower flag pattern had remained intact, a recent series of lower highs had begun to forecast the downside continuation was imminent.

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Limit the number of applications because multiple credit applications are a red flag on your credit report and can lower your credit score.

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The problem with this is, as often happens in a flag formation, the second decline will result in lower lows.

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Walking along Liberty Plaza in lower Manhattan is a guy in a knit hat carrying a large Chinese flag and a handful of China Daily newspapers.

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By the middle of January 2003, the lower support line could also be drawn (line F), which creates a flag formation (highlighted in red).

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The PowerShares QQQ Trust ( QQQ), which tracks the Nasdaq 100 Index, exceeded the upper resistance from the flag formation on Tuesday (line a), but then closed lower, which is a short-term negative.

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You can take a neutral approach to the this stock and wait to see which way it breaks out of this lower level flag.

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