Descending Triangle

The video reviews a descending triangle setup on the S&P 500 which is considered to be a bearish chart pattern.  The speaker predicted a breakdown in all three of the major indices of the stock market. 

The presenter discusses a basic chart cycle and where in the cycle to look for a triangle to set up in the corrective phases of a bull or bear market move.  He covers a few different triangle setups; the symmetrical triangle, descending

The speaker talks about a descending triangle pattern.  The descending triangle has a flat horizontal support line with a descending upper trend line which contains the price.  The price projection of the descending triangle after it breaks through the supply line is equal to the breakout price plus the longes

Descending Triangle Definition

A descending triangle is a bearish chart pattern. They can take place in both bull and bear markets, but often times they are a continuation pattern of an existing downtrend.