I'm just a beginner, but since 11/28/07 is that a head and shoulders on the daily chart for one year of the S+P 500 and Nasdaq Composite indexes?? If so, does that mean we go clear back down to the 1415 level?? Any experts????
http://finance.yahoo.com/charts#chart2:symbol=^ixic;range=3m;indicator=volume;charttype=ohlc;crosshair=cross;logscale=on;source=undefined left shoulder 11/28 head 11/30 right shoulder?
No. The H&S is a topping pattern. If there were a top, it would have been at the beginning of October. LC
How about GS with a top on 10/31 would you consider the period 9/1 - 10/31 an uptrend sufficient to classify 10/31 as a top?
Thanks guys............yes that's right that it should be a top in the market What I thought was the H+S shows up alot better on the S+P 500 and Nasdaq(daily chart for a year time period) whereas it isn't there nearly as clearly on the DOW JONES INDUSTRIAL AVERAGE chart that mgabriel01 posted above>>>if fact the two shoulders aren't close in height in the DJIA So if we were at a market top the shape is correct?
LOL I tried to copy/paste the Nasdaq chart from yahoo charts and got the Dow chart by accident. Sorry about that I think the same thing applies though -- were you saying you thought Nasdaq hit its top on 11/30?