Inverted Head & Shoulders w/ Gravestone Doji
Technicals may be returning positive for the bulls.
There is multi-month inverted head and shoulders in the SPX with today putting in a gravestone doji candlestick pattern.
Gravestone doji is like an inverted hammer. If valid, this gravetone may mark the spot where the bears are about to get buried before our 20 year anniversary recurrence of the January 1992 rally?...
There is multi-month inverted head and shoulders in the SPX with today putting in a gravestone doji candlestick pattern.
Gravestone doji is like an inverted hammer. If valid, this gravetone may mark the spot where the bears are about to get buried before our 20 year anniversary recurrence of the January 1992 rally?...
posted by chartblog at
7:17 PM
3 Comments:
Hi Dave,
Nice work. I've seen in the past you posted some gartley patterns (Sep 30th). Is there one to be found in this move since beginning of oct? Thnx.
Dave, do you have something in mind such as QE3, fundmentals, etc, for your analysis? The Europe is so bad, it is hard to forsee the strong bullish run ahead. Thanks
Pattern from Oct 4 does have a Gartley look to it though I'm seeing a twisted up Elliott AB pattern off the 9/22 low (will post chart)
Anon 8:07....If 20 year trading cycle is a guide, things may only be bullish into first quarter of 2012 as was the case in 1992.
Gann said add 5 years to important bull top to find a bear market low. 5 years off late 2007 is late 2012. May see some trouble late 2012 taking SPX back down again...
-Dave
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