This is a text book H&S. Very ugly chart. Is DOW JONES TRANSPORTATION AVERAGE INDEX telling us something big is coming this week or next?
Handel aktiv:
I adjusted the neckline to be exact on the wick. So we are still testing neckline. Let see if we can break it in the next few days. I do believe if transportation breaks everything else breaks too
Kommentera:
Also possible bullish divergence on RSI if we bounce tomorrow. Dow Sell signal triggered in my opinion.
Handel aktiv:
I adjusted back the neckline. It broke down hard. Possible bullish divergence is still possible if we bounce tomorrow. Short it on the bounce.
Handel aktiv:
Bullish Divergence most likely to play out. Should bounce shortly to retest neckline or close to it. Small Santa rally .... Before a BIG SELL OFF IN JANUARY
Handel aktiv:
Looks like topping out today. Should head lower
Handel aktiv:
Now this is the Top I think. We are going lower
Handel aktiv:
Possible Bearish divergence on RSI (daily and 4 hour charts)