BATS:SPY   SPDR S&P 500 ETF TRUST
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Potential IHS - weak right shoulder, but it's possible
thanks for your analisy ... I belive in this target
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Sorry, didn't mean to offend. I clicked on your popup,saw your charting mistake and thought I'd lend a hand. Read up on H&S patterns and the fundamentals of what develops the price action into a H&S (it's not just price), channel extensions, measured moves bull & bear pendants etc. The second chart you supplied shows 2 measured moves right on top of each other within a well defined price channel!

FYI- your original chart is a classic ascending triangle with a volume profile to match, not a "potential IHS with a weak right shoulder, but it's possible"

have a great weekend and good luck with your trading.

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KLang VWAP McStinkypants
Dude. I do believe a know a couple of things about measured moves and bull and bear pennants. That pattern is not an ascending triangle as it does not fill the space well. IHS at the top of a trend HAPPENS. You might want to take a look at a couple of my charts before you come to the conclusion that I need help with the basics.
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H&S patterns are reversal patterns not continuation patterns. please refer to the following link and review your charting basics. :)
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns
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KLang VWAP McStinkypants
If you don't like my charts - don't look at them. IHS can happen at the top of a trend and DO. Here's ONE on a daily time frame Want more?
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octradr KLang
You tell Mr. Stinky what's up!
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KLang octradr
Don't you love it when people give you advice about your basic training based on one chart. And yet, they've never published a single chart themselves? LOL
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KLang VWAP McStinkypants
What a HUGE fail that was. Missed it by .13
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