Today’s Trading Plan: Head and Shoulders Ready

2016-05-16T08:40:31-04:00May 16, 2016|

Technical Outlook: On Friday, SPX dropped nearly 1%. But more importantly managed to close below the 50-day moving average, despite bouncing off of it the previous two times.  More importantly is the massive head and shoulders pattern that has been forming over the past two months on SPX. A move [...]

Head and Shoulders Patterns Tells No Tales

2016-04-21T11:58:32-04:00April 21, 2016|

Nice head and shoulders pattern forming on SPX 5 minute chart going back to the past two days of trading. A break below the lows of the day at 2095 would confirm the pattern and likely result in an even bigger downside move.    Here’s the action: […]

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