we are forming the right shoulder of a inverted head and shoulder bottom
Started by
Wavetimer
, Nov 05 2007 05:02 PM
10 replies to this topic
#1
Wavetimer
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Posted 05 November 2007 - 05:02 PM
if you use the drop we are in as the right shoulder aug 17 low as head and late june low as left shoulder we have a target for sp 1650 to 1675 into cycle high late dec to
#2
Russ
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Posted 05 November 2007 - 05:37 PM
Agree it looks like a reverse H&S formation. As for the high date, Airedale88 is looking for a Hurst cycle low in late Dec. , so perhaps the high will come late Nov. or so.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
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"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#3
denleo
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Posted 05 November 2007 - 05:37 PM
We are not forming anything like this. It is your imagination. Trust me.
Denleo
#4
Russ
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Posted 05 November 2007 - 05:41 PM
Until spx 1489 is taken out, nothing is proven on the bearish side of the fence.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#5
denleo
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Posted 05 November 2007 - 05:50 PM
Short-term we will try to rally. I need that.
Anything beyond short-term:
10% correction from current levels will be a gift to the bulls. Mark my words. Uptrends are over for now.
I said it before: prepare yourself for a new environment.
Denleo
Anything beyond short-term:
10% correction from current levels will be a gift to the bulls. Mark my words. Uptrends are over for now.
I said it before: prepare yourself for a new environment.
Denleo
#6
Wavetimer
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wavetimer system
Posted 05 November 2007 - 05:53 PM
LOOK TO THE LOW ON MCO SUM LOW THIS MARKS A MAJOR LONG TERM LOWWe are not forming anything like this. It is your imagination. Trust me.
Denleo
#7
swingtrader
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Posted 05 November 2007 - 06:00 PM
Denleo,Short-term we will try to rally. I need that.
Anything beyond short-term:
10% correction from current levels will be a gift to the bulls. Mark my words. Uptrends are over for now.
I said it before: prepare yourself for a new environment.
Denleo
What do you think we will be in? A wide trading range from now on for a while?
TIA.
-ST
#8
fib_1618
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Posted 05 November 2007 - 06:13 PM
if you use the drop we are in as the right shoulder aug 17 low as head and late june low as left shoulder we have a target for sp 1650 to 1675 into cycle high late dec
Agreed...the volume pattern is not consistent to an inverted head and shoulders pattern.We are not forming anything like this.
Please refer to the August bottoming pattern for a good example of one.
Might be, especially if the pattern pulls divergence....but this is minimally a couple of weeks away.LOOK TO THE LOW ON MCO SUM LOW THIS MARKS A MAJOR LONG TERM LOW
Fib
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#9
eminimee
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I don't care who's fur is flying...
Posted 05 November 2007 - 06:13 PM
785 oex by Christmas
#10
dasein
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Posted 05 November 2007 - 07:58 PM
There are H&S/IH&S reversal patterns and there are H&S/IH&S continuation patterns - the latter would mean continuation of the Down trend.
klh
best,
klh
klh
