We’re seen these things fail many times, but it’s possible. The symmetrical triangle is due to Ben’s congressional testimony. Whenever the Fed or the Treasury have scheduled or unscheduled meetings, you’ll usually see the day form as a doji/inside day/or any of the technical triangles. You see this occur almost every time of FOMC days. I just look for the breakout of breakdown from the consolidation in response to how the market reacts to the words spoken.
3-day chart SPX
What does inverse H&S usually mean?
It’s a TOP or BOTTOM formation the middle (the head is the low or the high) depending on if it’s inverse or not.
That’s the short possible bottom unless it fails.
Hey CA, if this head and shoulders plays out, you calling 800-810 the top of this rally.
I’m hoping for it to confirm, so i can remain short silver.
Confirmation is a few points away!
So when should we initiate short positions then?
I’m not doing that today. Maybe in 1-2 days.
@CA: These are also in RUT and COMP.
@Carey: Price confirmation is at the purple line. A bounce down off the purple is a short signal. Punch through purple then maybe long–depends on the candle length punching through. Odds are for a short signal bounce because it has basically tested 3 times and failed.
and failed again.
lol Gotta love those end of day 3PM+ moves.
My hotmail account was down for 6 hours. I was so pissed off. Still am. Fuck MSFT.