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The inverse head and shoulders patterns on that link look like they've already gone up to their previous highs, or close. That is, the right side of the pattern has already been mostly completed. Which means that the observation is dated. That's something you would have wanted to call a couple months ago.
Media is often inaccurate and the proof has never been more in evidence than it has been over the last two years. While technical accuracy is significant to some its broadly interpreted by others.
Inverse head and shoulders means the markets took a nosedive (which is did end of 2018), and it trying to claw its way back.
False !!!
The link is clear of what an inverse H&S means.
An inverted head-and-shoulders, however, is the mirror image of this traditional formation, and points to a rising rather than a bearish, or reversing trend.
Well, I guess it's a wrap folks.....funny...I've been saying this for a long time and so have others.
BUT, if we brought back all that manufacturing and if Trump created vast amounts more...and if more and more people are making more money....well, why aren't consumers buying????
"WASHINGTON (Reuters) - U.S. manufacturing activity slowed to a 2-1/2-year low in April amid a sharp drop in new orders while construction spending unexpectedly fell in March, suggesting economic growth was moderating after surging in the first quarter"
2 1/2 year low. No stock market decent movement since the "tax reform" was signed. Larger deficit. Fed stopped normalizing.
Sorry, Folks, it's a wrap. This is not a good economy. I've seen MANY good economies in my time...and this surely is not one of them!!
Yep, it's Don the Con's fault!
"businesses increasingly anxious that President Donald Trump's threats to close the U.S.-Mexico boarder would further disrupt the supply chain. Washington's trade war with China has created bottlenecks at factories."
An inverted head-and-shoulders, however, is the mirror image of this traditional formation, and points to a rising rather than a bearish, or reversing trend.
You have been saying that for as long as I remember, and we are still below the peak 16 months ago. Inverse head and shoulders is exactly what I said it is.
We've had some good numbers in the past month and stock market is doing well, but I am not convinced yet that the economy is doing well. I'll wait for at least a couple months of consistent numbers, either positive or negative. My financial guy advised taking the earnings and putting them in more conservative investments right now.
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We've had some good numbers in the past month and stock market is doing well, but I am not convinced yet that the economy is doing well. I'll wait for at least a couple months of consistent numbers, either positive or negative. My financial guy advised taking the earnings and putting them in more conservative investments right now.
My guy has me slowly shifting money from stocks and stock funds into bonds and income funds. I'm comfortable with this.
You have been saying that for as long as I remember, and we are still below the peak 16 months ago. Inverse head and shoulders is exactly what I said it is.
You may set a standard, but its not in financial technical analyst definitions.
That was done decades ago.
You may set a standard, but its not in financial technical analyst definitions.
That was done decades ago.
Yes it is. Inverse head and shoulders require a significant drop in the markets. The markets dive, and then claw their way back. Once we get back to the market level of 16 months ago, then we have created the second 'shoulder', while the 'head' was the late 2018 correction.
What is Inverse Head And Shoulders?
An inverse head and shoulders, also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of a security meets the following characteristics: the price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.
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.....We are still below where we were 16 months ago.
