The top of the right shoulder just formed on the SPY for a small Head and Shoulders pattern. Support appears to be at 3720 for where the right shoulder will be completed. Support on the SPY is also at 3550 where it will hopefully bounce off of and reverse.
The top of the right shoulder just formed on the SPY for a small Head and Shoulders pattern. Support appears to be at 371 for where the right shoulder will be completed. Support on the SPY is also at 355 where it will hopefully bounce off of and reverse.
Head and Shoulders pattern created in DJI & DIA charts on September 17th. Downward baseline/trendline formed between the 17th and the 30th of July. Idea is that the market drop from the Head and Shoulders pattern must break down through this trend line (minimum drop level) before a bottom forms from this play. Short Call.
Head and Shoulders pattern created in DIA chart on September 17th. Downward baseline/trendline formed between the 17th and the 30th of July. Idea is that the market drop from the Head and Shoulders pattern must break down through this trend line (minimum drop level) before a bottom forms from this play. Short Call.
