01/22/13 – Reverse Head & Shoulders Broken To Upside

MARKET MESSAGES

1/22/13 (2nd post today)

There is apparently a reverse head and shoulders that has been broken to the upside.  The upside measurement is to 1600 SPX.  Sorry I didn’t mention this in the earlier update today.

01-22-13 SPX DAILY BARS

01-22-13 SPX DAILY BARS

01-22-13 SPX 60 MIN BARS

01-22-13 SPX 60 MIN BARS

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8 Comments on “01/22/13 – Reverse Head & Shoulders Broken To Upside”

  1. hayes noel Says:

    I’m sorry. I may not have made myself clear. A plain “h and s” is a reversal pattern coming after an advance. A “reverse h and s ” is also a reversal pattern coming after a decline. You cannot have a classic “reverse h and s” after an advance. The psychology behind the pattern is not the same and so the predictive value is questionable. This isn’t to say the SP won’t go to 1600 anyway.
    BTW this is a very good site.

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  2. focus12345 Says:

    Thanks for the explanation.

    Like

  3. Bob Says:

    Sierra is a charting software that requires a data feed. My data feed comes from my broker (free). This is a windows only program and therefore I use Parallels on my mac for Windows OS. I have Mac OS and Windows OS running simultaneously. Works great.

    I find that Sierra gives me charting software with better capabilities than StockCharts. It has a much finer touch when drawing lines, etc.

    http://www.sierrachart.com/

    Bob

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  4. focus12345 Says:

    Thanks Bob- what is the Sierra charting software?

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  5. Bob Says:

    I thought you were only using the daily. I’ll put it back up soon (today – hopefully).

    I wasn’t using the smaller ADX time frames because I have a more accurate reading on my Sierra charting software.

    Bob

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  6. focus12345 Says:

    Hi Bob I see you took the 60 minute 40.4 ADX and Daily 5 Day EMA Buy/Sell System down are you going to put it back up .Still using the daily and 60 minute.
    I think we are close to a sell on the daily if not today- tomorrow.

    Thanks
    Michael

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  7. Bob Says:

    Quoting, “There is apparently a reverse head and shoulders”

    I didn’t call it a head and shoulders but a reverse head and shoulders.

    Bob

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  8. H Noel Says:

    Re head/shoulders pattern. A “head and shoulders” is a REVERSAL pattern. A classic h and s occurs after a rally; a reverse h and s occurs after a decline. I see this (to me) misnomer all the time.

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