That’s a lot to say in one headline! In addition to a (so far) confirmed downside break of the bearish rising wedge on the S&P 500, an ominous Head and Shoulders pattern has now formed on the 60 minute structure. Let’s take a look at this new development. If there ever was a confluence sell…
A very interesting development is taking shape on the daily US Equity Index Charts – there appears to be two distinct – and opposing – Head and Shoulders formations taking shape… and we’re at the break-out point of both patterns. Let’s see these and what they might imply. S&P 500 Daily: I’ve never seen two…
Is the Utility SPDR (XLU) on the precipice of a breakdown of a large head and shoulders pattern? At a minimum, we need to keep a close eye on this index for a potential resolution one way or the other. Let’s look. XLU Weekly Chart: Massive potential head and shoulders patterns such as this magnitude…
I’ve you’ve never seen a clear Head and Shoulders pattern, look immediately to Kendle International (KNDL). The stock is forming a broad H&S pattern, and the Right Shoulder actually developed a mini-H&S pattern within it – it’s one of the strangest patterns I’ve seen. I annotated this chart for visual clarity. The black lines represent…