Comments on: Another Failed Head & Shoulder ? http://www.ritholtz.com/blog/2009/11/another-failed-head-shoulder/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 19:49:03 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: SINGER http://www.ritholtz.com/blog/2009/11/another-failed-head-shoulder/comment-page-1/#comment-231821 SINGER Tue, 03 Nov 2009 22:53:51 +0000 http://www.ritholtz.com/blog/?p=43013#comment-231821 @js its in play now but I would not go short until we get through 9430 on the DJIA... you can always get a rally back to the apex and I have read on a good pattern site by Bulkowski - http://thepatternsite.com/risewedge.html, that these are not the most reliable patterns... @Steve C - no time to get into the littany of H&S on major indicies but see this post DJIA H&S top... http://singerprofitcharts.blogspot.com/2008/01/indu-dow-jones-industrial-average.html Also, what about the big H&S bottom on the weekly S&P chart above? Also H&S bottom on Nikkei before its run into the 2007 highs? @I-Man - maybe... if prechter is right, we go to SP 350 then to 1900 when the full thing plays out in a couple a years.... @js

its in play now but I would not go short until we get through 9430 on the DJIA… you can always get a rally back to the apex and I have read on a good pattern site by Bulkowski – http://thepatternsite.com/risewedge.html, that these are not the most reliable patterns…

@Steve C – no time to get into the littany of H&S on major indicies but see this post DJIA H&S top…

http://singerprofitcharts.blogspot.com/2008/01/indu-dow-jones-industrial-average.html

Also, what about the big H&S bottom on the weekly S&P chart above? Also H&S bottom on Nikkei before its run into the 2007 highs?

@I-Man -

maybe… if prechter is right, we go to SP 350 then to 1900 when the full thing plays out in a couple a years….

]]> By: SteveC http://www.ritholtz.com/blog/2009/11/another-failed-head-shoulder/comment-page-1/#comment-231800 SteveC Tue, 03 Nov 2009 21:37:29 +0000 http://www.ritholtz.com/blog/?p=43013#comment-231800 H&S patterns rarely work on the major averages, especially if they're so obvious everyone sees it. Why do you think the pattern failed in July? Because everyone could see it. All the shorts lines up on the right shoulder, then the big money trapped them. H&S patterns rarely work on the major averages, especially if they’re so obvious everyone sees it. Why do you think the pattern failed in July? Because everyone could see it. All the shorts lines up on the right shoulder, then the big money trapped them.

]]> By: I-Man http://www.ritholtz.com/blog/2009/11/another-failed-head-shoulder/comment-page-1/#comment-231799 I-Man Tue, 03 Nov 2009 21:36:11 +0000 http://www.ritholtz.com/blog/?p=43013#comment-231799 Oh my... And what are we looking at if your "Head" is really but a mere left "Shoulder"...? Reality I guess. Oh my…

And what are we looking at if your “Head” is really but a mere left “Shoulder”…?

Reality I guess.

]]> By: jsgarber http://www.ritholtz.com/blog/2009/11/another-failed-head-shoulder/comment-page-1/#comment-231796 jsgarber Tue, 03 Nov 2009 21:27:52 +0000 http://www.ritholtz.com/blog/?p=43013#comment-231796 @singer At what point do you consider it a confirmation that the rising wedge patter is in play? @singer

At what point do you consider it a confirmation that the rising wedge patter is in play?

]]> By: robert moreno http://www.ritholtz.com/blog/2009/11/another-failed-head-shoulder/comment-page-1/#comment-231789 robert moreno Tue, 03 Nov 2009 20:57:37 +0000 http://www.ritholtz.com/blog/?p=43013#comment-231789 I have noted for some time now similar H&S patterns in multiple timeframes on my publice site on Stockcharts.com, here is a link: http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3409190 In addition, there is a similar comparison to be made between the March '09 bottom and the March'03 bottom, here is a link to my "instablog" on Seeking Alpha.com, click on the article entitled "March '03 vs. March '09/ Comparisions and Projections." I have noted for some time now similar H&S patterns in multiple timeframes on my publice site on Stockcharts.com, here is a link: http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3409190
In addition, there is a similar comparison to be made between the March ’09 bottom and the March’03 bottom, here is a link to my “instablog” on Seeking Alpha.com, click on the article entitled “March ’03 vs. March ’09/ Comparisions and Projections.”

]]> By: SINGER http://www.ritholtz.com/blog/2009/11/another-failed-head-shoulder/comment-page-1/#comment-231782 SINGER Tue, 03 Nov 2009 20:12:19 +0000 http://www.ritholtz.com/blog/?p=43013#comment-231782 @jsgarber see this link for an update on the wedge pattern... http://singerprofitcharts.blogspot.com/2009/10/annotated-rising-bearish-wedge-in-djia.html @jsgarber

see this link for an update on the wedge pattern…

http://singerprofitcharts.blogspot.com/2009/10/annotated-rising-bearish-wedge-in-djia.html

]]> By: torrie-amos http://www.ritholtz.com/blog/2009/11/another-failed-head-shoulder/comment-page-1/#comment-231781 torrie-amos Tue, 03 Nov 2009 20:09:44 +0000 http://www.ritholtz.com/blog/?p=43013#comment-231781 CNBC, wow, the purveyor of greenshoots is now talking FIAT money, lol, if this get's some traction bar the doors katy...........bens worse nightmare, something like fiat money becoming common place, ooops CNBC, wow, the purveyor of greenshoots is now talking FIAT money, lol, if this get’s some traction bar the doors katy………..bens worse nightmare, something like fiat money becoming common place, ooops

]]> By: HarryWanger http://www.ritholtz.com/blog/2009/11/another-failed-head-shoulder/comment-page-1/#comment-231775 HarryWanger Tue, 03 Nov 2009 19:39:49 +0000 http://www.ritholtz.com/blog/?p=43013#comment-231775 Dow has made three unsuccessful runs at getting above yesterday's close. If it continues to fall, as I mentioned earlier, to close under 9700, the scenario for the swift sell off is still firmly intact. IMO. Dow has made three unsuccessful runs at getting above yesterday’s close. If it continues to fall, as I mentioned earlier, to close under 9700, the scenario for the swift sell off is still firmly intact. IMO.

]]> By: HCF http://www.ritholtz.com/blog/2009/11/another-failed-head-shoulder/comment-page-1/#comment-231773 HCF Tue, 03 Nov 2009 19:31:59 +0000 http://www.ritholtz.com/blog/?p=43013#comment-231773 @Vermont Trader: Any excuse to stay home and eat Ben & Jerry's... I'll take it! HCF @Vermont Trader:

Any excuse to stay home and eat Ben & Jerry’s… I’ll take it!

HCF

]]> By: HCF http://www.ritholtz.com/blog/2009/11/another-failed-head-shoulder/comment-page-1/#comment-231772 HCF Tue, 03 Nov 2009 19:30:47 +0000 http://www.ritholtz.com/blog/?p=43013#comment-231772 I'm talking out both sides of my mouth here, with both long and short positions. Fundamentally, I'm bearish, and technically, we're certainly on the cusp on something big. I guess I sell the losing side and let the other side go where it will. Should be interesting! HCF I’m talking out both sides of my mouth here, with both long and short positions. Fundamentally, I’m bearish, and technically, we’re certainly on the cusp on something big. I guess I sell the losing side and let the other side go where it will. Should be interesting!

HCF

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