$SPX Potential H&S (Update)
June 10, 2010 11:06 PM

After few negative bias days, $SPX may be attempting to rally to form potential H&S pattern. The last SwingHigh was on April 26th at 1219.8. The Fib. retracement levels of 50% is at 1131 and 62% is at 1152. The first hurdle to reach this level is 200-SMA at 1107. If SPX passes this level, it may reach 1130-1150 level easily. We’ll evaluate at that level to see if it is a second-shoulder. See the Volume in the second shoulder to get some hint of H&S pattern.

Comments

2 Responses to “$SPX Potential H&S (Update)”

  1. Johann Freeman on June 16th, 2010 8:05 pm

    Hi Suri,

    in your book you wrote the volum on the left shoulder is higher then on the right sholder.
    I don't have a volum info in the SPX, but when I look on the SPY I can't see this.

    regards Mike

  2. Johann Freeman on June 16th, 2010 8:07 pm

    Hi Suri,

    I saw in your book that the volum in the left shoulder is higher then in the right sholder.
    I don't have volum infos on the spx but on the spy i can see it.

    regards Johann