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
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Category: Professor's Comments