given the way the MACD looks i.e. recycled back to zero with no
negative divergence, as well as the sideways price action, I favor
more upside. Also notice the 200 EMA just below the price, I
like to use the 200 EMA on 15 min charts since it tends to act
either as support or resistance. As long as SPX holds above that,
then I favor higher prices. Also you can see a potential
inverse H&S pattern here
The Inverse H&S measures to at least 1325 if it plays out.
Am I interpreting this right? Its a "difficult head" to interpret
given the spike down in forming the head
SPX 15 min chart
Posted by matt on 23rd of Mar 2011 at 06:14 am
$SPX 15 min
given the way the MACD looks i.e. recycled back to zero with no negative divergence, as well as the sideways price action, I favor more upside. Also notice the 200 EMA just below the price, I like to use the 200 EMA on 15 min charts since it tends to act either as support or resistance. As long as SPX holds above that, then I favor higher prices. Also you can see a potential inverse H&S pattern here
Matt, SPX is below that 200 EMA
Posted by harshblue on 23rd of Mar 2011 at 12:10 pm
yeah could still be an
Posted by matt on 23rd of Mar 2011 at 12:24 pm
yeah could still be an inverse H&S
Matt see my chart on the IHS posted yesterday...
Posted by kobie on 23rd of Mar 2011 at 07:11 am
The Inverse H&S measures to
Posted by vimal on 23rd of Mar 2011 at 07:05 am
The Inverse H&S measures to at least 1325 if it plays out. Am I interpreting this right? Its a "difficult head" to interpret given the spike down in forming the head
vimal. upside targt 1330. If you take the IHS in pink its potensially even higher.
Posted by kobie on 23rd of Mar 2011 at 07:15 am
Posted a 60min chart yesterday!