Tom McClellan

@McClellanOsc

·
Feb 18

The question is which volume stats to use for this: SPY? ES? TVOL? Edward’s and Magee do not answer this question for us, as H&S is originally intended for individual stocks, not the entire market.

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Peter Brandt

@PeterLBrandt

· Feb 18

H&S top in S&Ps??? $SPX $ES_F $SPY A number of technical traders have pointed out this potential top While the form itself is close to perfection (so far), the volume profile is not consistent with classical charting Highest volume should not be in right shoulder

Head and shoulders pattern is the most misunderstood pattern, which is funny given it's also the most well known. It's just a lower high or higher low signifying a turn in trend. Most of the time you never see anyone mention volume for H&S. You're better off using other indicators over just declaring something a H&S pattern and saying it will go XYZ.

"When your position is underwater, average down" - Professional Trader

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#16 hhh

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1,070 posts

Posted 20 February 2022 - 09:39 PM

E&M gave specific volume requirements for a valid H&S pattern.

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#17 redfoliage2

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18,054 posts

Posted 20 February 2022 - 11:55 PM

As I said last Friday it's more likely to see the market bouncing up this week ..................

Edited by redfoliage2, 20 February 2022 - 11:59 PM.

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#18 dTraderB

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17,659 posts

Posted 21 February 2022 - 08:38 AM

Keeping 1 NQ SHORT until.... tomorrow, end of week?? or until stocks resume trading...

ES 4100 and lower now quite possible, breaking 2022 lows

Adam Mancini

@AdamMancini4

·

13m

Short trading day for #ES_F (1pm close). Last week, it broke down a *key* trendline from January low at 4395. Plan today: I posted 4280-60 is target as long as 4395 holds & ~4395 backtested overnight & sold. 4280-60 remains my target. Bulls cant bounce there, 4170 comes fast

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Adam Mancini

@AdamMancini4

· 14h

Opening update futures: #ES_F opens red downside target remains 4280-60 as long as 4370-95 holds on any backtest. Reminder for those on Substack that newsletter will be out tomorrow evening due to the Holiday. Detailed newsletter from Friday found here https://tradecompanion.substack.com/p/spx-has-broken-down-a-major-triangle?utm_source=url

Adam Mancini

@AdamMancini4

·

13m

Short trading day for #ES_F (1pm close). Last week, it broke down a *key* trendline from January low at 4395. Plan today: I posted 4280-60 is target as long as 4395 holds & ~4395 backtested overnight & sold. 4280-60 remains my target. Bulls cant bounce there, 4170 comes fast

Quote Tweet

Adam Mancini

@AdamMancini4

· 14h

Opening update futures: #ES_F opens red downside target remains 4280-60 as long as 4370-95 holds on any backtest. Reminder for those on Substack that newsletter will be out tomorrow evening due to the Holiday. Detailed newsletter from Friday found here https://tradecompanion.substack.com/p/spx-has-broken-down-a-major-triangle?utm_source=url

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#19 redfoliage2

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18,054 posts

Posted 21 February 2022 - 09:51 AM

The attempted bounce faded.

https://www.reuters....mit-2022-02-21/

Now let's see if ES 4300 will hold or not. I don't have much hope on it though .....................

Edited by redfoliage2, 21 February 2022 - 10:00 AM.

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#20 K Wave

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27,013 posts

Posted 21 February 2022 - 11:24 AM

IF NQ under 13800 at the trading halt.....could get ugly on the reopen and overnight....

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy