Good post rtstrading. Btw, have you done any testing on past data regarding the accuracy and predictive power of this widely followed pattern? Thanks.
Head and Shoulders forming on the S&P 500 - Target price 800
- Thread starter maxxy
- Start date
Good post rtstrading. Btw, have you done any testing on past data regarding the accuracy and predictive power of this widely followed pattern? Thanks.
Quote from Landis82:
So how's that "head and shoulders" pattern working out for everyone today???
Guess you guys never heard of the slogan . . .
"What is obvious is obviously WRONG."
Like the first 2 posts. "Anyone see the H&S?" "We will see if it a failed pattern"
So it may work it may not. how useless can this be?
Sounds like Elliott Wave people arguing over which wave and sub wave and reactive wave each person sees...
The pattern is still valid. Only until we rise above the head is it void.
So it's not the perfect pattern, and the index may keep rising. The weekly is showing a inverse H&S pattern, just to confuse everyone.
Bottom line is the government has taken extreme measures, my guess is the market will push higher.
http://stockcharts.com/school/doku...._analysis:chart_patterns:head_and_shoulders_t
So it's not the perfect pattern, and the index may keep rising. The weekly is showing a inverse H&S pattern, just to confuse everyone.
Bottom line is the government has taken extreme measures, my guess is the market will push higher.
http://stockcharts.com/school/doku...._analysis:chart_patterns:head_and_shoulders_t
I see 930 as the line in the sand for the H&S pattern. An H&S pattern can have more then one shoulder. Many people are familiar with the simple H&S pattern and believe the current one is busted. I say not so, as long as the SPX stays under 931 then the H&S is still in play.
I see you have posted a thread on the inverse h&s on the weekly. What is your true opinion? H&S or inverse h&s. More people see the inverse h&s on the weekly then the h&s on the daily. Most will think the one on the daily is now busted when in fact, its not...
I see you have posted a thread on the inverse h&s on the weekly. What is your true opinion? H&S or inverse h&s. More people see the inverse h&s on the weekly then the h&s on the daily. Most will think the one on the daily is now busted when in fact, its not...
Hey Aaoron Copeland/Roman Candle/Jumpshot - Do you really enjoy talking to yourself all the time? How do you keep track of all these nicknames that are talking to each other. Just curious is all. Once, a long time ago, I got a psychology degree and although that fell by the wayside in favor of Economics, I still have an amateur interest in the psychology arena. So wierd folks like yourself with mulktiple personalities never cease to fascinate me. Anyhow, like i said, just curious is all.
