Home > Short-Term Trader > Head-and-Shoulders Forming In SPX & NASDAQ

Head-and-Shoulders Forming In SPX & NASDAQ

The SPX and COMPX are both testing the underside of the broken trend-line extending back to the lows in February. This retest, potentially, is setting up a head-and-shoulders pattern. I will look to execute an initial short position in the futures market AFTER a break occurs away from the trend-line, this way I have a definable pivot from which I can assess my risk and set a stop. Should this pattern come to fruition, a break below the neckline will warrant a maximum position with a target of around 1150 in the S&P 500 Cash Index.

Compx has     Spx has

Categories: Short-Term Trader
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