Here we go again another H&S top formation, don't forget what happened back in May of 2009. You better wait for conformation, it's an election year.
The patterns are not always in perfect shape, this may help you. http://stockcharts.com/school/doku...._analysis:chart_patterns:head_and_shoulders_t
I see a formation in the making but we are building the right shoulder on the way UP. Wait before establishing shorts unless we get big news this may take time. Just like the spike down on Feb 8th was a bear trap----a low risk place to establish a bullish position trade right now few if any bulls are trapped---yet---and the market has serious juju to go higher---open market operations, low interest money for financial firms with few places to gain return, and overhanging bearish sentiment which all add fuel to go higher. Once enough people are in a position to be trapped long then the bears will roar.