In this post I would like to put together some previous stock market calls (still valid), as well as add two more promising shorts. It's been a rough week for US stocks culminating in a clear break of the Head&Shoulders' neckline at 2045. This kind of pattern is usually referred to as "Complex H&S top"
, because there are multiple peaks and its "head" is a H&S
pattern itself. The traditional target is set in the 1945 area
, though we expect a move of greater magnitude. There is a more traditional H&S
. It calls for a sizable move to the downside. Another bearish pattern
is a Rising Wedge
, or Ending Diagonal
, in Bank of America. The first target here is $15 area, which is some 10% from here.
I'm still positioned according to previously published ideas:
All of them are currently profitable.
Best of luck, mates