Wednesday, August 29, 2007
Mixed Signals
A Reverse Head and Shoulders - predicting the market to rise from the lowest point of the head to an equal amount above the neckline - a line drawn from the highest point of the shoulders. The right shoulder will be completed (in this case) at 147 and the increase should be to 154. This is what technicians follow as one of their rules - but there is also a phrase - "a failed head and shoulders"
click on image to make larger
click on image to make larger
From Brian at AlphaTrends
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