Keep an eye on this one

Possible inverse Head and Shoulders on the Naz comp.

if it were to play out, the target would be somewhere between 3500 and 3950ish right in the 62% to 78% retracement area from the all time highs

Al this stage I can see it. Still believe before we get to the end of the year we get a vicious Four Year Cycle Low. I just do not know how high it goes before that.

Al this stage I can see it. Still believe before we get to the end of the year we get a vicious Four Year Cycle Low. I just do not know how high it goes before that.

Skott I' ve been looking at the same inverse H&S pattern you have pointed out for months. Except that to me it is the fake they want
to trap tons of bulls. My reversal point is where this fake H&S is complete. The dax too made a fake like that at the end of 2007. It was the reason why I entered short on 12/28/2007. Unfortunately I was so stupid not to keep the position for the whole 2008, otherwise I would have
taken the whole market drop.


BTW ..... the fake I' m looking at is complete or very very close to be complete right now. The neck line beeing the descending trend line you traced and not the horizontal red line. Thnere's no possibility that the red horizontal line is the neck line imo.

Edited by andr99, 07 March 2010 - 04:20 AM.

as I said "Would be unbelievable wouldn't it?" Could very well be a fakeout but one never knows how far "they" can take things to fool the many.