Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 675.24

-1.2%

Nov 4 4:00 PM EST

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Ms. Baby Boomer

To: Ms. Baby Boomer who wrote (65583)	10/30/2014 12:48:21 AM
From: Chip McVickar	1 Recommendation Read Replies (1) of 218420

to me... the left shoulder and head formed beautifully... but the right shoulder didn't form and was broken with the big push lower to 1820 that spike down negates the entire formation... ...plus the neckline (if it ever existed) was broken to the upside at 1930 ...so this is not a classic head and shoulder pattern but this is a weak pattern ... the move higher hasn't proven itself... and price must stay above 1960 to 1950 to me this weekly chart has a duration of 2 months... if by january there hasn't been a move away from this pattern and higher... ...the bears will win

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