Monday, July 26, 2010

SIMILAR INVERTED HEAD AND SHOULDERS [10:40 AM UPDATE]

 [10:40 AM UPDATE]

SPX 15 MIN

The market appears to still be working on minuette (iii).
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I apologize. Earlier I posted a moving average chart highlighting a hanging man. I realized the data had not refreshed and it no longer applies at the moment so I removed it.

I do, however, wanted to post this chart below again. I realized I missed the second similar inverted head and shoulders pattern at the Feb 2010 bottom.











A close up.









 SPX MINI

Look at the mini. It is rallying through old resistance as well. So far, by this count, we are in minuette (iii) up.

Look at the inverted head and shoulders there as well.
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