Rangy - here's the all three scenarios Steve showed a while
back:
You can see the bearish H&S example where a RS is forming,
as well as a larger inverse H&S (in brown) which is exactly
what happened last year and is bullish.
Yes it's a possibility as well, but an inverse H&S could
also form. A lot of people see that H&S possibility is
one problem, when too many people see it, it doesn't happen.
Remember last year summer time, everyone was looking for a right
shoulder to form a bearish H&S pattern on the SPX, well a RS
formed, but it then morphed into an Inverse H&S instead.
I would just keep an open mind and react to what the market
gives you vs predicting.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
How about a symetrical head
Comments??????
Posted by randy on 29th of Jun 2011 at 02:44 pm
How about a symetrical head and shoulder forming up to the 1350 area ?
Rangy - here's the all
Posted by matt on 29th of Jun 2011 at 03:20 pm
Rangy - here's the all three scenarios Steve showed a while back:
You can see the bearish H&S example where a RS is forming, as well as a larger inverse H&S (in brown) which is exactly what happened last year and is bullish.
Yes it's a possibility as
Posted by matt on 29th of Jun 2011 at 02:48 pm
Yes it's a possibility as well, but an inverse H&S could also form. A lot of people see that H&S possibility is one problem, when too many people see it, it doesn't happen.
Remember last year summer time, everyone was looking for a right shoulder to form a bearish H&S pattern on the SPX, well a RS formed, but it then morphed into an Inverse H&S instead.
I would just keep an open mind and react to what the market gives you vs predicting.