Is this right shoulder of h&s on naz?

Is this the right shoulder of h&s on naz?

  • yes

    Votes: 5 45.5%

  • no

    Votes: 6 54.5%
  • Total voters
    11
Quote from SiSePuede!:

Anyone else want to chime in, I'm curious about what others think from experience.
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It's good to be looking for the potential of patterns forming but also realize that almost any breakout looks like a double top before continuing on through resistance to new highs (wasn't it BlueStreak who would call a double top just because the Dow would close at resistance before breaking out to new highs?).

Depending on how aggressive a trader you are, you'll want to see some sign of a reduction in momentum before going short in a situation like this - no need to step in front of a train....

Looks like everyone has been waiting since the 10:30 top for the CPI numbers to come out in the AM ....
 
Quote from RL8093:

It's good to be looking for the potential of patterns forming but also realize that almost any breakout looks like a double top before continuing on through resistance to new highs (wasn't it BlueStreak who would call a double top just because the Dow would close at resistance before breaking out to new highs?).

Depending on how aggressive a trader you are, you'll want to see some sign of a reduction in momentum before going short in a situation like this - no need to step in front of a train....

Looks like everyone has been waiting since the 10:30 top for the CPI numbers to come out in the AM ....
More...

I'm not advocating anything...I saw one formed looking H&S in early 07 that didn't snap a neckline and the potentiality that one is forming now.

Thanks for your advice though, either way the markets go from here this is a change from recent events and therefore interesting.
 
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