There is evidence (which I will not get into all of them here) to suggest Feb was a top in NDX. One piece of evidence is the bigger
Head and Shoulder structures at a top are usually a reversal pattern as bulls and bears fight it out. Multiple heads and shoulders
(as seen in the chart) increase the likelihood that the bigger structure is valid and a top is in. Tops can never be known prior so
there is still a lot of work that needs to be done.
I initially posted the H&S back on March 3rd. Since then, the structure has morphed into a bigger H&S and created another
mini one within it.
see chart below.
Head and Shoulder structures at a top are usually a reversal pattern as bulls and bears fight it out. Multiple heads and shoulders
(as seen in the chart) increase the likelihood that the bigger structure is valid and a top is in. Tops can never be known prior so
there is still a lot of work that needs to be done.
I initially posted the H&S back on March 3rd. Since then, the structure has morphed into a bigger H&S and created another
mini one within it.
see chart below.
Note
So far so good for the short trade.
Real Macro Economic Investing
patreon.com/Realmacro
patreon.com/Realmacro
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Real Macro Economic Investing
patreon.com/Realmacro
patreon.com/Realmacro
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.