Is That a head and shoulders since 11/28/07 on the S+P 500 and Nasdaq comp.

Discussion in 'Technical Analysis' started by bigpig41, Dec 17, 2007.

  1. 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????
  2. ping!
  3. post a chart please?
  4. No. The H&S is a topping pattern. If there were a top, it would have been at the beginning of October.

  5. Nope


    Refer to user name...
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  6. 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?
  7. 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?
  8. 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?