Well, will you look at this...
Is this possible is not the question. It is.
A head-and-shoulders top is a pattern associated with "distribution." And could trading on NASDAQ this past decade be better summarized?
Clincher, though, is most recent action...
- A volume spike accompanying the downside break of the head-and-shoulders neckline.
- The reaction back up to the neckline.
All textbook. And going by this same book, the minimal objective of NASDAQ's head-and-shoulders top targets the vicinity of levels last seen in 1987. The only thing I cannot tell you is what will become of the wireless internet revolution over the interim.So, there it is, the great NASDAQ head-and-shoulders top ... staring everyone right in the face ... bringing new meaning to the adage, it's not the face you f^@%, but the f^@% you face.
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© The Risk Averse Alert — Advocating a patient, disciplined approach to stock market investing. Overriding objective is limiting financial risk. Minimizing investment capital loss is a priority.
Analysis centers on the stock market's path of least resistance. Long-term, this drives a simple strategy for safely investing a 401(k) for maximum profit. Intermediate-term, investing with stock index tracking-ETFs (both their long and short varieties) is advanced. Short-term, stock index options occasionally offer extraordinary profit opportunities when the stock market is moving along its projected path.
Nothing is set in stone. Nor is the stock market's path of least resistance always known. More often than not, there are no stock index option positions recommended.
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