WallStScalper

DowU_nder neckline? Possible SHS & ABCD targets....if!

INDEX:DOWU   DOW Utilities
153 1 2
Dow Utilities             could setup a classic SHS             pattern (in orange and target in yellow) with a neckline around the 527 handle.
Left and right shoulder are now at the same highs with a 61.8 retracement of the head - at the 577 handle.

The other pattern is a harmonic ABCD patern (in blue) with a target at the 510 handle
Momentum on the MACD histogram is decreasing

Will it play out....time will tell...as always

Safe trading L&G
@BLawrenceM

Music at work:
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The ETF for shorting the DOW Utilities. Notice the positive RSI
snapshot
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