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 triangle, and ascending triangle and discusses their configuration and implications

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 longest distance (supply line - demand line) in the triangle.