If you're saying the head is at 705 or so from last week, then
for the shoulders to be symmetrical we'd need another two weeks of
trading in the high 600's before any big downside break.
I believe the chart roger provided was a 2 minute chart and not
on the Daily although there is that Daily potential H&S.
Symmetry would be later in October and we do have positive
divergence on the 5 and 60 min charts with the 50 Day MA around
$651-652, 13 week MA around $646 and a previous high in April at
$644 so if I was trying to set-up that Daily H&S better I would
prefer a bounce here and then a down later in the month.
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If you're saying the head
h & s playing out......whats that high for the day?
Posted by frtaylor on 2nd of Oct 2012 at 01:01 pm
If you're saying the head is at 705 or so from last week, then for the shoulders to be symmetrical we'd need another two weeks of trading in the high 600's before any big downside break.
Okay. I don't have stockcharts.com
Posted by frtaylor on 2nd of Oct 2012 at 01:17 pm
Okay. I don't have stockcharts.com so I'm not seeing a 2-min chart.
I believe the chart roger
Posted by tom on 2nd of Oct 2012 at 01:15 pm
I believe the chart roger provided was a 2 minute chart and not on the Daily although there is that Daily potential H&S. Symmetry would be later in October and we do have positive divergence on the 5 and 60 min charts with the 50 Day MA around $651-652, 13 week MA around $646 and a previous high in April at $644 so if I was trying to set-up that Daily H&S better I would prefer a bounce here and then a down later in the month.