Tweet It’s important to consider the “time factor” when projecting key turning points in a chart. These vertical bars represent 20 trading days and while this is an imprecise art one can clearly see a trend around the recent head and shoulder pattern that has been forming over the last 2 months. Tops take time […]

Tweet The Dow Jones is carving out a head and shoulder pattern on it’s 60 min chart with the neckline being around 10600. Now it’ll be just like the market to act like it’s going to collapse and then rally 1000 points…but I’m not taking this pattern lightly. For the most part I’m on the […]

Tweet If you are a regular reader of this blog and a short term trader, you had no business holding any long positions over the weekend. My timing signal, indicated by the red arrow, switched to down last week and Friday’s advance was quite weak. In this 60min time-frame I see a confirmed head and shoulder pattern […]

Tweet Classic head and shoulder pattern setting up which normally indicates bearish movement in the future. [ad#co-1]