Is there a reverse head and shoulders on the 5min SPX chart.
From the low of 1040 to neckline of around 1054 =14 points. Add 14
points to neckline = 1068. That is also the 50% fib retracement you
showed on 15 min chart.
It really works for me...closes the gap from the other day
allows for a 5th wave off today's lows to possibly complete a wave
C up of an irregular flat for a wave 2. So many things to like
about that potential. And as you say hits that 50% fib area.
Reverse head and shoulders
5 min SPX chart worked well
Posted by kobie on 27th of Aug 2010 at 11:28 am
Is there a reverse head and shoulders on the 5min SPX chart. From the low of 1040 to neckline of around 1054 =14 points. Add 14 points to neckline = 1068. That is also the 50% fib retracement you showed on 15 min chart.
kobie..nice H&S call
Posted by perthx on 27th of Aug 2010 at 12:22 pm
It really works for me...closes the gap from the other day allows for a 5th wave off today's lows to possibly complete a wave C up of an irregular flat for a wave 2. So many things to like about that potential. And as you say hits that 50% fib area.
H$S
Posted by kobie on 27th of Aug 2010 at 12:36 pm
Measures the same hight as the bull flag that Matt called earliar.(flag flies at hail mast.
H&S back testing neckline?
Posted by perthx on 27th of Aug 2010 at 01:17 pm
H&S back testing neckline? Glad we wont have to wait long to see what happens. Should play out or fail by day's end I would think.
Watch the 5 min 14,3 and
Posted by angelo851 on 27th of Aug 2010 at 02:19 pm
Watch the 5 min 14,3 and 60,3 Full Sto's to drop below 80. That would probably be a good sell signal. The 5 min MACD has negative divergence as well.