Thread: Chart Patterns: Head & Shoulders

Two H&S drawn differently based on the left shoulder. Either ways the PO is 1011-1015

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Cramer explains the Head & Shoulders
http://www.cnbc.com/id/15840232?video=1573933708&play=1

Originally Posted by JTH

Cramer explains the Head & Shoulders
http://www.cnbc.com/id/15840232?video=1573933708&play=1

Interesting. Cramer thinks chart technicians are self-fulfilling prophets. Chartists read a H&S pattern and act out of fear to sell, fulfilling the downside target of the pattern. Has a technically perfect pattern like we have today, ever failed? The low volumn on the right shoulder is very convincing for a true H&S reversal, but I'm I just being an alarmist? Cramer differently has the ability to make you doubt your trading strategy. Too bad for him, I'm a perma-bear right now and caution is my mantra. When that black swan swims by, all sectors, even the recession-'proof', will be hit.:toung:
(although, it may be a gray duck swimming innocently by that I ignore resulting in a 10% loss and an extra year of employment before I can retire)