Possible H&S top in XLF (Financials)? Not the most symmetrical or aesthetically pleasing H&S--especially the downsloping neckline, but not all H&S are picture perfect, either. FWIW, read somewhere when H&S do have downsloping necklines the equity/etf is much weaker than average H&S pattern...so if this confirms, Financials might be a better than avg. short.
Might S&P be making a H&S or triple top? 24FEB14 Update: Looks like SPY broke above the 1850ish level, but didn't hold it well....so, w/ a "head" (although a short one!) in place, it prob. eliminated the Triple Top possibility and will likely do the H&S thing....question is will it form a higher head and go up a bit more for more symmetry, or call it a day...
Ok, so here we go again. Been perplexed w/recent odd volume, breakouts and breakdowns and previously posted chart here () ref. speculation on the NAZ primary top. Just couldn't figure out if it was a broadening top (megaphone-shaped pattern----still very valid for NAZ, actually) or something else.....and yet, still see/have seen many stocks breaking out (solars,...
Note: See previous posting on 2000 NAZ top....several similarities between 2000 NAZ top and this 2014 possible top. Note (Feb 22, 2014): Ok folks, think I figured it out...will publish in a separate chart, but the above title "NAZ TOP ON JAN 22, 2014???" was off by 1 month...am now thinking the primary top in this bull happened yesterday Feb 21, 2014 (yesterday)...
Here's my review of 2000 NAZ top w/annotations....2014 NAZ top (?) forthcoming....very similar, IMO.
Here's best price channel I could come up w/for NAZ....admittedly imperfect. If trendlines are drawn correctly, shows a NAZ top in the 4280ish area....we'll see!
Ok, here's my 1st published chart....shows long-term channel from 1982 at bottom to 2000 top, 2009 bottom to what (judging from channels), a March 2014 top (assuming it has spike like in 2000....if not, might be a bit lower (like top in 2007). Anyway, the end is near, presumably! NOTE (Feb 19, 2014): This chart is holding up pretty well so far....S&P keeps...