Inverse H&S W4500 Hourly Projected PO 750 on 13 June

Inverse H&S W4500 Hourly Projected PO 750 on 13 June, any takers? :cheesy:

 

[Sensei]

That would be about a 6% gain. What the hell, I'm in.:blink::nuts:

 

[JTH]

You might be just crazy enough to try it! I might entertain it, but we'd have to break through the neckline first.

 

[RealMoneyIssues]

You might be just crazy enough to try it! I might entertain it, but we'd have to break through the neckline first.

I am glad I looked at the comments because I was wondering if the H&S was finished or we needed to see it come back to the neckline and continue.

My biggest question is what overall event or news is going to cause the market to start moving up again? A lot of news recently has been negative...

 

[Sensei]

Yeah, it's funny how calamity can strike suddenly and unexpectedly, turning the market on its ear (i.e., March 11), but there aren't too many strokes of serendipity that would likely cause a 6% spike over the course of a week. Bearishness is increasing though, so I'm hoping for a little contrarian rally in the short term. Then I can sell and feel good about myself.

 

[JTH]

When tops are put in, it's because we've ran out of buyers, when bottoms are put in it's because we've ran out of sellers. We could be near a pivotal day, but I never try to hit the pivots, just draft them...