Home > charting trendlines, investing, stock charts, Stock Market, technical analysis > S&P breakout… or Head & Shoulders?

S&P breakout… or Head & Shoulders?

The S&P put a positively vicious rally onto the chart this week.  It broke handily above its downtrending line of resistance in the process…

So that’s good, right?  Maybe.  Or, it may be that a Head and Shoulders is forming…


The S&P formed a clear Head & Shoulder last summer, and actually broke under the neckline before regrouping and rallying to new highs after Helicopter Ben declared the arrival of QE2.

It’s worth nothing that the Emerging Markets have the same setup as the S&P – breakout above the trendline this week, but back into Head and Shoulders territory.

  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: