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Matt/Steve, has the potential Head & Shoulders pattern been negated by the SPX running up to 1112 today, or would that still be a legitimate right shoulder?
That's been negated - possible some type of double top may form.
is the green dotted line scenario on your 15 min chart more likely, i.e. we've had wave 1 up, this pullback is w2, with a big w3 up to come?
Comments, anyone?
Today's thrust higher would represent part or all of Wave 3.
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SPX H&S
Posted by isplat on 23rd of Nov 2009 at 12:34 pm
Matt/Steve, has the potential Head & Shoulders pattern been negated by the SPX running up to 1112 today, or would that still be a legitimate right shoulder?
That's been negated - possible
Posted by steve on 23rd of Nov 2009 at 12:46 pm
That's been negated - possible some type of double top may form.
OR
Posted by isplat on 23rd of Nov 2009 at 12:41 pm
is the green dotted line scenario on your 15 min chart more likely, i.e. we've had wave 1 up, this pullback is w2, with a big w3 up to come?
Comments, anyone?
Today's thrust higher would represent
Posted by steve on 23rd of Nov 2009 at 12:49 pm
Today's thrust higher would represent part or all of Wave 3.