H/S vs. Bull Wedge. I'm leaning towards H/S as today's move was to be expected based on the tiny wedge and oversold Stoch condition. If we break above the purple trend line, bull wedge in play. 50 crossing below 100 two days ago would suggest otherwise. Stoch is no longer oversold. A break above 65.32 would mark a higher high and confirm a reversal. Other...
This could also be showing a huge IHS, although the left shoulder is weak at the neckline. With worldwide data so grim, though, one would have to question what could be so very, very bullish? Emerging markets are slowing (BRIC), China, Japan and EU are flirting with recession and the US has high unemployment and so-so data points. The high price of corn and...