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 60 MIN BARS

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This entry was posted on January 22, 2013 at 7:48 PM and is filed under 2 - EDSON GOULD, JEFF SAUT, UPDATE. You can subscribe via RSS 2.0 feed to this post's comments. You can comment below, or link to this permanent URL from your own site.

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

hayes noel Says:

January 29, 2013 at 4:23 PM
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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focus12345 Says:

January 29, 2013 at 1:37 PM
Thanks for the explanation.

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Bob Says:

January 29, 2013 at 11:58 AM
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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focus12345 Says:

January 24, 2013 at 2:43 PM
Thanks Bob- what is the Sierra charting software?

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Bob Says:

January 24, 2013 at 2:35 PM
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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focus12345 Says:

January 24, 2013 at 2:00 PM
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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Bob Says:

January 23, 2013 at 10:47 AM
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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H Noel Says:

January 23, 2013 at 6:29 AM
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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