It doesn't happen often but it can get tricky H&S sometimes don't play out or the do but not the full count. That's where levels become important. But that daily played out and still in action, so it's showing us something.
I don't normally use the H&S at all BUT, looking at the S&P pic a few posts back with a MACD about to turn south makes me think a bit.
All the markets seem to be waiting for something and the FOMC always makes the market nervous, add to that the way the news on a single company such as google makes the market move when it should not, ADD in china, add in numbers that look depressive all over the world, add more jobs in the USA but no increase in production, add the production figures and job counts in the EU look shaky, Russia in deep do do, oil not looking good, gold on the way down, ALL of these are signals that say we are getting close to a point of decision, and down seems to be gaining the upper hand.
Now look at the possibility of a steep drop with the US unable to address problems due to an already 0 interest rate. if this thing breaks south in a big way it could get very interesting.
Just observation at the moment, Still if someone has a chart that goes back beyond 2001 just to see how often this sort of system builds and how often it works as advertised and how many times it fails.
G
but for me its about being sustainable, so works perfect for me.
