Dow

Hi all,
Great website Remo.

Regarding Remo's comment earlier, could some kind soul confirm whether i am right in understanding that the bounce is expected soon to about 13050?

many thanks

"So im expecting the bounce to come near the target of the small head and shoulders(completes the head) then a Christmas rally(right shoulders) and then hopefully the shorts could be put on when we dont make new highs."

to get the bigger right shoulder from current levels would require a rally. Remember its not formed yet as were still just finishing of the head,so to get the right shoulder requires a rally .
Its a big ifff right now but its worth noting.

I'm being stupid here I think but wouldn't the right shoulder formation be down rather than up(Xmas rally per your post)!

yep..
Ive already closed it .
Then i noticed the head and shoulders.....dohhhhhh

Im getting really bearish now but the shorts are not ready to go on yet.
Im expecting a rally soon and at the end of the rally is when my shorts are coming out..
The head and shoulders that i just pointed out is only a small one but there is a good chance that there is a bigger one building out right now.



So im expecting the bounce to come near the target of the small head and shoulders(completes the head) then a Christmas rally(right shoulders) and then hopefully the shorts could be put on when we dont make new highs. Simple really...
If only it was that simple
If this is right it took 6 months to build the left shoulder and then 5 months for the head and maybe 6 months for the right shoulder???? Sell in may could be the theme for next year????

But thats my plan for the short term but you never know i might change it like the weather

DYOR
remo

Remo did you trade the 150 points on break of 12743? Good call

How i missed this i do not know.
I was hoping for a back test at least.


The target for the head and shoulders is 12364

It looks like a top is formed now as every thing is breaking down.
New longs on any thing should be done with caution

DYOR
remo