https://davidoengland.com/wp-content/uploads/2015/10/doe_logo_trans-with-tagline2015.png 0 0 David O. England https://davidoengland.com/wp-content/uploads/2015/10/doe_logo_trans-with-tagline2015.png David O. England2016-05-11 14:40:432016-05-20 16:18:05EOM Q&A 5.11.16 Head and Shoulder Target II
Q: If the current SPX rally continues, where do you see it going?
A: My next upside target is 2093-see chart below. How is this determined?
I calculated the percent run (2.7%) in the left shoulder-then calculated a 2.7% run from the previous reversal.
So Target Area II (red box) is from 2093-2083.
If the SPX fails to build momentum in this area, this sets the stage for an upcoming downturn.
When/if this happens, I have my Volatility, and Inverse Fund plays on deck.
For more on Head and Shoulder formations.
Have questions? Send them my way.
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