Look how both charts have formed ideantical setups. Identical FAILURE to make new highs and both stopped under 55 weekly EMA.
This is very orderly turn in trends.
Momentum setup now in gear to the downside on daily and weekly here.
Both have formed almost identical H&S patterns.
The third index with smilar setup is XBD. It has already formed H&S on monthly charts.
In order for these patterns to be negated they have to rally above 33 EMA. Otherwise its just a matter of time no matter how many more days weeks they'll be kicking at this level.
Yes, when I was bullish a week ago, I thought transports will make it, but they failed. Don't think I'm not paying attention
Edited by ogm, 05 November 2007 - 08:27 PM.
