The Nasdaq and it's 200-day M.A.

Will the Nasdaq once again find resistance at it's 200-day M.A.?

Pay

 

Investopedia: The "head-and-shoulders" pattern is believed to be one of the most reliable trend-reversal patterns.



Does this resemble the bearish pattern?

 

Market might stay in a range (S&P 1375-1425) for a while just to screw both bulls and bears.

 

...a few more tests? Then what?pS

 

Weak futures. . .now what?

pS

 

Ok, well in the early going we get a 1.25% drop in the Dow and a 1.5% drop in both the Nasdaq and the Nasdaq 100.

A quick "lop-off" from gains made last week in lightened trade.

Since there has been no commentary on this "formation", I take it Investopedia has it nailed.

So if the support/"neckline" is broken or about another 1.25% - 1.5% fall. . .we head for a Bear Market?

I guess this site is mostly "scalpers" that are not interested in "swings" or general Market Direction. After all, T.A. and volume has no bearing on trades - just pure "price" action.

 

Either ET members are very much like the "crowd" (in denial) or I am looking at this wrong:



So people here would rather post about everything else - but this does seem like a possible staunch "reversal".
pS

 

Yep, that was a bit of a chomp on last weeks gains:



pS

 

Of course I'd be sorely remiss if I forgot the timely PPT!

pS

 

I'd post some pretty pictures, but I'll just say - are we having fun yet?

Does anyone lend credence to this "reliable" bearish pattern?

What is wrong with this website? I am actually having a conversation with myself. It seems you have to act severely dysfunctional just to "incite" responses to a thread discussion.

Maybe I should've named the thread - "IT'S FOR SURE, GENTS, THE BEAR MARKET IS STARTING NOW!!!!"

I am just curious is the right shoulder does indeed seem to be headed sharply lower - i.e. going into a Bear Market very soon.

Please take a moment and post your views and experience.

paysense