jmboyer1
Short

H&S or Triple Top for S&P?

INDEX:SPX   S&P 500 Index
150 1 0
Might S&P             be making a H&S or triple top?

24FEB14 Update: Looks like SPY             broke above the 1850ish level, but didn't hold it well....so, w/ a "head" (although a short one!) in place, it prob. eliminated the Triple Top possibility and will likely do the H&S thing....question is will it form a higher head and go up a bit more for more symmetry, or call it a day (w/today's new high) and start the way down? Or, do something that completely flummoxes both bears and bulls? Stay tuned!

28FEB Update: S&P             went to new high today, but reversed b/f recovering some of it late...good prob. this was top of head in H&S pattern...but time will tell as it must form a neckline and then a right shoulder b/f breaking down from neckline....one step at a time. That said, mkt/stocks look tired and have been laboring to make new highs....not signs of a vibrant bull , but rather an old one...
Madrid PRO
2 years ago
IMO, Multiple tops. I expect a retracement, an ascending triangle in an attempt to break the 1850 level and a correction bigger than the 10% broadcasted in the media. Values > 1850 will write another story, which I am afraid it will only be a continuation of an overextended one.
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