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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Sunday, April 26, 2009

H&S pattern explaination websites

I've been thinking about last weekend's Bearish charts and the subsequent Bullish action last week. Now this weekend everything looks Bullish......

Hmmmm, what is one to do?

Basically, I included the H&S educational sites to show that whatever happens we should be looking for a breakout on Friday's completion of the Inverted H&S patterns.
  1. http://www.investopedia.com/terms/i/inverseheadandshoulders.asp
  2. http://www.onlinetradingconcepts.com/TechnicalAnalysis/ClassicCharting/HeadShoulders.html
  3. http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:head_and_shoulders_b

The questions are:

  1. Will there be a breakout above 875?
  2. If it happens how far will the Bulls run? S&P 900-925?
  3. And when it eventually tops out and rolls over will the current prices S&P 875 hold as support?
  4. If the breakout fails is it 750-800 here we come..........

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