Bear pennant is the begining of long bear market. "After a big dump, this "bear" flag sets the stage for another quick and even larger fall. Volume decreases considerably in the flag, but the break to the downside is accompanied by a big increase in activity"
Here is 22/10/08 INDU 9:00 AM US Chart http://img241.imageshack.us/img241/6894/djiaoe6.gif Here is all the explaination. http://www.chartpatterns.com/flagandpennantcharts.htm INDU has all the characteristic. Hopefully the chart was wrong but if its correct hopefully we all prepare and have time to cover safely. The breaks up or down could happen this or next week.
