Inverted head and shoulders on the SPX?

Discussion in 'Trading' started by fantastic4, Jan 28, 2009.

  1. I find it really interesting that bank execs are buying. Banks are what should lead the market high or lower I believe.

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  2. dsq


    inverted head and shoulders??wtf,maybe if your on crack...then again so maybe chartists read interpret garbage to fit their own beliefs.People who claim to be chartists should at least read the edwards mcgee book before yapping their heads off.This internet fool obviously hasnt.
  3. I agree that there is a pattern forming that can be an inverted head and shoulders in major indexes as well as certain stocks. AAPL in particular
    I am not a bull in general, but i think this bears watching
  4. J.P


    Clearly, you do not understand technical analysis...the name of the pattern might be silly, but the statistics that it generates are not. Doesn't matter if this Inv. H&S fails or works, but we should compare statistics after a large sample of trades if you would like. The game is finding premium betting opportunities, and many of these patterns offer these favorable bets.

  5. I sold 863's to 865's in the ES last time we were trading this level and today I am a seller there again.....will keep selling this area at the upper end of the range we have been in for a while now. I am holding some 863.00/863.50's and will keep selling on up in this resistance zone UNTIL I see initiated buying breakout delta. :)
  6. Clearly you are correct. thank you for the enlightenment.
    What did you actually say?
  7. 5 point targets tagged out so far at 858.00, next targets at 853.00.
  8. There's only one thing that's making me nervous about this rally, and that's that the $trin is staying well above 1.
  9. Selling 864's/865's this rotation far so good with some good price action in the delta NET SHORT holders resistance zone. :)
  10. Congradulation AMT on your money earned!

    The TRIN continues to fight this rally.
    #10     Jan 28, 2009