Nasdaq has been trending since the middle of May. It broke the trend on July 15th and checked the underside of the trend on the 16th. Today it completed a precise Fibonacci Retracement which coincides with a potential downwards channel.
This sequence highlights a Head and Shoulders reversal pattern which is nearing completion. Don't forget, the trend has already been broken (and checked).
It is worth noting that there is a small, upside-down Head and Shoulders at the low yesterday, highlighted in a circle. That pattern was legitimate and has already reached target.
This sequence highlights a Head and Shoulders reversal pattern which is nearing completion. Don't forget, the trend has already been broken (and checked).
It is worth noting that there is a small, upside-down Head and Shoulders at the low yesterday, highlighted in a circle. That pattern was legitimate and has already reached target.
