The small break below S/H/S neckline at 1,128 on Thursday wasn't enouf to destroy the possible inverted Shoulder/Head/Shoulder formation, but the diverging MACD doesn't seem to fit this picture. Therefore it should be interesting to see if this is a possible "Bull trap" taking us to the 1,158 area and then a collaps in price. We still need a break below 1,114 to "kill" the inverted S/H/S bottom.Monday, September 27, 2010
S&P 500 - Still headed for the 1,158 area
The small break below S/H/S neckline at 1,128 on Thursday wasn't enouf to destroy the possible inverted Shoulder/Head/Shoulder formation, but the diverging MACD doesn't seem to fit this picture. Therefore it should be interesting to see if this is a possible "Bull trap" taking us to the 1,158 area and then a collaps in price. We still need a break below 1,114 to "kill" the inverted S/H/S bottom.
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