Diamond reversal pattern extended (update)

Diamond pattern has extended. I left the old solid pink line, but added the new dashed pink line as the pattern extended. I also added inverted head and shoulders notations. Note the nested smaller fractal H&S of today and how it fits into the larger H&S of the past five days.
Again, CSCO is closely positively correlated with the overall NASDAQ. So barring a CSCO specific catalyst, the two are going to move in the same direction. I'm expecting the overall markets to continue their climb on Friday and thru the light volume Thanksgiving holiday.

Kommentera:

Ok, none of the potential inverse head and shoulders played out. We're now just in a chop zone that can continue for a veeerrrryyyy long time. Better opportunities out there.