NQ Invesere head & shoulder formation daily chart

This may or may not play out. I learned years ago to look for bullish formations in a bull market, and bearish formations in a bear market. Markets are dynamic and anything can happen.

 

you did not draw the bear channel on the daily chart.

 

Agree 13200 but neither side is in control = hyper chop.

 

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LOL/a long term treND folloWer??
I NEVER draw a bear channel+ seldom even draw my own feW moving averages/\ + i use don channels or use auto drawN IBD charts, 5o+ 200 dma auto drawn i mean............................................................................................

 

Aint she pretty! The size of this H&S implies a possible quick rise up about 840 pts & even a potential bear killer for months or more, maybe the year low? Only time will tell.

Disclaimer: I am wrong a lot & this is highly subjective. If your already long enjoy the ride.

 

Between now and a month from now we have next inflation print, NFP, and then the dreaded June meeting. I'm gonna' call that a pivot point.

 

ha! same for me.
I don't draw anything on my daily chart.
In fact, I rarely look at the daily chart.

 

10Y yield and Dollar Index (below) should point the way. Red horizontal is long term weekly resistance that turned (?) to support looking to be tested from above. If it holds and dollar resumes bull trend indexes likely head further south. And vice versa.

 

LOL - that H&S is not holding up so well. Price needs to close above the high over the neckline to make this a legit H&S.