It was Hertz that first formed a SHS top in 2007 before we went into a market. This is why Hertz can be consider as a bellwether stock. It looks like it formed another shs top right at resistance
At the end of a recession, car rental companies usually benefit from an increase in leisure travel. In fact, up till now Hertz has done well. In July, Hertz reported second-quarter profit rose 31% as the company logged double-digit percentage revenue growth amid strength in its car-rental and equipment-rental segments. But that ended when Hertz lowered its full-year guidance, citing a weaker U.S. airport car rental market. Source: Hertz Cuts Outlook on Weak Airport Rentals
Does the SHS top on Hertz mean consumers have less discretionary income for leisure travel which means you need to start shorting everything.... hmm. I think we need more proof of an imminent US economic crisis than just the chart of Hertz.... but if time repeat it self we could see the being of the bullmarket.
Using Using the Trix-Fisher system developed by nmike here at TW - shows a support for the above presumption.
But as always....time will show.
Safe trading Gent!