Saturday, May 7, 2011

Head and Shoulder Pattern in the SPYDER

A beautiful, textbook H&S Pattern in the SPYDER. Dependent on what Chartschool you are in (and where you draw the Neckline) the Pattern has failed, succeeded or is still in a limbo.

Given how unconvincing Mr. Market has failed to rally of the 'good' employment data on Friday and sold the initial advance, I tend towards the 'failed' case.

Just wait for next week abd you will know.

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