EOM 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.  
 
DOE
 

David England has sent you a SharpChart snapshot from StockCharts.com:

a SharpChart snapshot from StockCharts.com

Comments from David England:

Learn more about StockCharts.com!

copyright (c) StockCharts.com
This email was sent to eyeonthemarket@outlook.com, by thetraderseye@gmail.com. If you think that you have received this chart in error or to report abuse of our emailing feature, please contact support@stockcharts.com.
When your Vision and Goals are Clear-Results will Appear!
 
This information is for Educational purposes only.
It shall in no event be construed or interpreted as an offer or recommendation to buy or sell securities of any kind.
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *