H&S Neckline Breached
[ 11:00am ] I am watching the market very closely. The neckline of the Head & Shoulder pattern was broken this morning. However, it was penetrated marginally at light volume. This is not how a H&S breakdown supposed to be, unless the real show is in the afternoon !?
I have the opportunity to view the professional Elliot Wave report from EWI. Although their wave count differs from my, the conclusion remains : the last leg of the current wave ( wave 5 ) should terminate at around 2,500 ~ 2,600.
Labels: Market Direction
posted by Market Wizards @ July 08, 2009
Comments: 0
