Head and Shoulders Bottom breakout? The text book target is $114.40 which roughly is around the January high (at $114.66).
The bottom line, I don’t generally trade against my own signals which still need awhile to switch back to BUY mode, so the strategy is still to sell the bounce. However, as more and more bottoming signals are piling up (I’m going to add one more tonight which weights a lot in my mind), so I’ll be very very cautious in selling the bounce from here.
The WOW I mentioned yesterday isn’t over yet, a record high is reached today (assuming of course, I calculated correctly), so I’m going to keep WOW-ing tonight. The last 6 times I WOW-ed were in 05/18 Market Recap, 05/12 Market Recap, 05/03 Market Recap, 04/29 Market Recap, 04/20 Market Recap and 04/14 Market Recap. Let’s see what it will bring us this time.
P.S. The DISQUS system seems wrong on my blog that everyone’s comments are gone. Just let you know that it’s not me who removed all your comments. I think they’ll come back eventually.
Disclaimer
The information contained on this website and from any communication related to the author’s blog and chartbook is for information purposes only. The chart analysis and the market recap do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.
This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.
