Gargantuan Head and Shoulders Top in the Dow - Dow 2000 target

Discussion in 'Technical Analysis' started by dasenbrj, Jan 23, 2014.

  1. Good stuff, agree.
     
    #11     Jan 24, 2014
  2. dbphoenix

    dbphoenix

    Seems like most people (a) didn't read your second paragraph and/or (b) didn't notice that you left off the last three years.

    Patterns exist because people see bunnies in clouds. And there is an oooo factor among the unsophisticated that prompts them to view pattern people as experienced and knowledgeable. But when it comes to evidence and reliability, problems arise.

    Be that as it may, patterns -- such as they are -- exist due to behavioral dynamics. The so-called Head & Shoulders is no different. But the H&S is a story of greed and desperation and panic which cannot be told without volume. And you don't have anywhere near the necessary volume. So it evolves into nothing more than a series of higher highs.

    If the materials you're using stress patterns, perhaps it's not too late to get a refund. :)
     
    #12     Jan 24, 2014
  3. You use channels extensively, they are also patterns.
     
    #13     Jan 24, 2014
  4. dbphoenix

    dbphoenix

    Proper channels are based on behavioral dynamics. They are not bunnies in clouds.
     
    #14     Jan 24, 2014
  5. Still considered part of the patterns family.
     
    #15     Jan 24, 2014
  6. d08

    d08

    The second trough of neckline is lower than the first, typically those don't play out. Oh yeah, it's not complete until the neckline is broken, it might just become a downward sloping channel.
     
    #16     Jan 24, 2014
  7. kut2k2

    kut2k2

    This is BS. Nobody is "killing it" with simple MA crossovers. Sure they work in bull markets ... what trend method doesn't? But as a long-term strategy you'll be lucky to break even.
     
    #17     Jan 24, 2014
  8. +1000000000000
     
    #18     Jan 24, 2014
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    #19     Jan 24, 2014
  10. dbphoenix

    dbphoenix

    If you like. If you see no difference now, perhaps you will in future.
     
    #20     Jan 24, 2014