Bill McLaren: Could Be A Crash Scenario

By on June 26, 2010

Someone by the name of Bill McLaren, “technical analyst and independent trader,” told CNBC the next few trading sessions could make or break the stock market (S&P 500):

“If the index goes to 1,040 and only bounces one day and the next day goes to a new low, be very careful because the time cycles in that pattern indicate there could be a crash scenario,” McLaren said. “I doubt it, but if it occurs, look out.”

Even though there is a risk of a severe decline, McLaren expects stocks to remain range-bound in the near term.

Source: CNBC

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