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Strategies & Market Trends : John Pitera's Market Laboratory
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From: ajtj9911/20/2013 11:43:53 AM
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Over the past few weeks, FB has formed a head and shoulders top that targets about $37. The problem now is the right shoulder seems to be dragging on a little too long, and the chart is getting pretty oversold as it continues to move sideways.

Remember, during the QE era, H&S top formations are far less reliable than the were in the non-QE era, so this is no sure thing by a long stretch. However, I do try to present all facets of the market, both bullish and bearish, where applicable.

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