Ok, so just like previously posted SPY H&S possibility, here's QQQ possible H&S setup (they're pretty much identical for all practical purposes). H&S wouldn't be confirmed until QQQ drops to around 83.5-84ish area to form neckline, then move back up to form a right shoulder (possibly 88-89 area (?), then breaking down back through neckline. Time will tell!
NOTE (30MAR14): NAZ seems to be breaking down from a well-defined head towards possible neckline (around 83.75ish or so) per chart above. While this LOOKS to be a H&S pattern in the making, nothing will be confirmed until we hit the neckline, form a right shoulder and then break down through the neckline, as markets can change on a dime...must remain humble and open to any possibility.
NOTE (6MAY14): So it LOOKS like top of right shoulder has formed (24APR) and we're inexorably moving downwards....however any H&S not confirmed until a break below the neckline vicinity 83-84ish....so just a waiting game, but definitely not a great place to be long as there's continued distribution and any rally is on weak volume and soon met w/volume selling. Remain short here.
NOTE (30MAR14): NAZ seems to be breaking down from a well-defined head towards possible neckline (around 83.75ish or so) per chart above. While this LOOKS to be a H&S pattern in the making, nothing will be confirmed until we hit the neckline, form a right shoulder and then break down through the neckline, as markets can change on a dime...must remain humble and open to any possibility.
NOTE (6MAY14): So it LOOKS like top of right shoulder has formed (24APR) and we're inexorably moving downwards....however any H&S not confirmed until a break below the neckline vicinity 83-84ish....so just a waiting game, but definitely not a great place to be long as there's continued distribution and any rally is on weak volume and soon met w/volume selling. Remain short here.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.