Fridays before a holiday weekend have a tradition of being very, very quiet. Today seems to be no exception. Unless something weird happens, we’re aiming for a close around 1323, up a few points.
Tag Archives: Inverse H&S
Some of you might remember this post from May 4. I was struck by the Fibonacci relationships in both time and price between the last two major H&S patterns, and thought it confirmed my view that the H&S top was ready to play out. We all know what’s happened since then, of course. The reason … continue reading →
UPDATE: May 8, 2012 NYA has completed its Head & Shoulders pattern, targeting 7340 on the downside. The Mar 30 forecast has played out nicely, although it took a little longer than expected. My gut is that NYA will remain stalled between 8300-8450 and not complete the larger Bat pattern at 9679. I suspect it … continue reading →
Other completed H&S patterns: RUT, NYA, COMP, NDX … continue reading →