Professor’s Comments Update 10/9/15

Posted by OMS  at October 9th, 2015

If you look at a 5 min chart of the DIA, you will see that a small potential Head and Shoulders pattern is forming.

The neckline of this pattern is near the 170.25 level.

If this level is broken, it could start the ball rolling south.

Watch for two things to happen:

(1)  For the14 period Money Flow indicator to turn negative, and

(2)  The 25 Period Aroon to enter the trend mode.

That’s what I’m doing,

h

Not sure of the terminology we use? Check out these articles

The Hockey Stick Pattern
The Creation of Waves and Trends
FAQ

All of the commentary expressed in this site and any attachments are opinions of the author, subject to change, and provided for educational purposes only. Nothing in this commentary or any attachments should be considered as trading advice. Trading any financial instrument is RISKY and may result in loss of capital including loss of principal. Past performance is not indicative of future results. Always understand the RISK before you trade.