The Chart is self explanatory. It shows that technical analysis is really that simple and works. It is about eliminating noise and getting to the truth.
This chart is a classic case of rising wedge breaking down with huge negative divergence clearly visible on weekly chart, then the pattern morphs into a channel by bouncing off from channel support trendline with clearly visible positive divergence on the daily chart.
And on Friday 10/14/2011, it closes right at 50% fib retracement of entire down move.
