Tuesday, July 20, 2010

2010 Head & Shoulders???

A lot of people were watching for a H&S Formation a week or two back and what could have been a H&S failed. However, maybe we were watching the wrong formation. Here is another potential H&S, for consideration. The volume is interesting but maybe not exactly the typical H&S. The trend lines are impressive and what caught my eye. Sometimes a simple trend line is all it takes.

Below are two charts, the first showing the H&S that we may be looking at and the second is zoomed out to show that these tend lines have a history.



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