Trader's Narrative has apparently bought into a revised head and shoulder bottom scenario. The way I and other bloggers saw it play out on 12/28/2008 had unraveled by 1/15/2009.
Is this recycled inverted H & S more likely than the original? Maybe so. It looks more conventional than the previous one and the volume picture fits pretty well with a spike in volume for the right shoulder that's smaller than the spike for the head. So we'll keep an eye on this. A decisive break above 92 would presumably complete the formation.
No comments:
Post a Comment