Re-re-visiting the inverse dow H&S>
stockcharts.com[h,a]daclyiay[dd][pb20!b50!f][vc60][iUp14,3,3!Lb14]&pref=G
Almost gave up on this one but it seems to still be hanging in there. The volume shows a continued decline into the right shoulder and then a really nice surge with the decent sized shadow to boot. Of course, the last time I thought I saw the shoulder forming in early-mid Feb, it promptly got taken out<g-ng>. This set on volume bars looks much better, though. The tough thing about this pattern is that the neckline is up around 9,000 and the formation measures to well over 10,000. I suppose that if we ever get to 9,000 and take it out on good volume, the case could be made for 10,000+.
Besides the seeming absurdity of this type of a move, does anyone have any comments on the structure of the pattern? |
