yes that's where it measures, but it's Only a 5 min chart,
therefore you have to look out longer term. If the Monday
lows are taken out and 1039 SPX, that would be a lot more
bearish
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Matt
5 min SPX H&S patter is playing out
Posted by isplat on 30th of Sep 2009 at 10:03 am
a re-post of my query from yesterday:
Matt, I'm confused,
Posted by: isplat on the 29th of Sep 2009 at 04:09 pm
looks like neckline would be 1058, and target would therefore be approx. 12 points below that at 1046??? Have I got it completely wrong?
yes that's where it measures,
Posted by matt on 30th of Sep 2009 at 10:05 am
yes that's where it measures, but it's Only a 5 min chart, therefore you have to look out longer term. If the Monday lows are taken out and 1039 SPX, that would be a lot more bearish