There is very little about this market that is easy. In fact this head and shoulders chart pattern is so magnificent that I’m almost skeptical of it ever actually playing out anywhere near its full potential.
Nonetheless it is a massive topping pattern and a darn near perfect one at that.
And with the afternoon selling that we have seen today, it is testing that neckline as we speak. At or below 2042 would be nice, but far greater would be a move back below 2039 – which would break the previous lower-low and undeniably confirm the head and shoulders pattern.
Let me put it in a chart for you!
Welcome to Swing Trading the Stock Market Podcast!
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In today's episode, I explain whether it is a good idea or not to rapidly increase the size of your portfolio if you come across a sum of cash. A lot of traders will do this without ever recognizing the emotional toll it can have on you as a swing trader and the awful mistakes you can make in doing so.
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*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
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