Can anyone confirm the volume profile on this H&S?

Discussion in 'Trading' started by RangeTrader, Jul 17, 2012.

  1. Just noticed this on the S&P 500...

    Does anyone happen to know if the volume pattern matches properly? Try the SPY or the /ES for vol. I don't trade these chart patterns. Just curious...

    Gonna be some good long setups at the yearly new lows/near lows again if this thing breaks next week.
  2. This isn't a h&s.
  3. No, it isn't a H&S until it breaks the bottom support level of 1325. Everyone knows that.

    But, the setup got canceled by the highs tested and turned into a divergence.

    I originally expected the market to top out at 1369 today from my calculated projection last Friday, but were slightly stronger than expected.
  4. d08


    Until yesterday it was a forming H&S (volume was confirming). But you drew the neckline wrong, the first trough was June 25th.