Inverted Head and Shoulder in Mar 2009

S&P 500 again...Inverted head and shoulder.Inverted H&S mean it has bottom, H&S mean it has topped

Head and shoulder formation let look at the histoy

This the the S&P500 in 2007. The topping pattern has form with head and shoulder. You can also see many big and small head and shoulder formed.

Let look at the king of the market

LEt take a look at the King of the market. Dow Jones Transport
Over here i am going to introduce bull flag and bear flag. See in the chart how it work:



As you can see now we are in the bear flag.So a drop has happened

Hit and Misses with star of today

Genting is a high flyer today....woow..nice gap up and move to the high of the day.Those who hold the stocks congrate!!!!

Shorted Emini S&P500 1116.25 9 Aug
exited Emini S&P500 1087.75 13 Aug

Stock that i have missed
Cosco long 1.59 on 12 Aug
Yangzijiang long 1.46 on 12 Aug

Upcoming
NOL long 2
Noble long 1.66
Midas long 0.94
Ezra long 1.91
CSE global long 0.95
Rotary long 0.96
Kepcorp long 9.02
Capland long 4.04

Stock entry today
Straitasia long 2.05
yanlord long 1.8
indoargi long 2.43
ezion long 0.66

Seems like the drop has been cushion.There are signal that is moving the other way now.But is still early to tell if it will last for long.Right now the US indices are in the Green except NASDAQ.

Mkt drop

As spoken yesterday, flat top of the market produce drop. The US indices are down currently and in asia japan is down 2.7%,. HSI is down 0.83% and STI is down 1.17%.
The trading method of mine also tell me that a drop is coming.that why i have no holding as of now except shorting of emini S&P 500 @ 1116.25.

Those who have shorted on SG stock earlier congrate too. i miss this boat cos i am too busy with my work.
is ok...never chase the market.if you miss it, is ok. the next wave will come again. if u chase the market and u lose $$$ then that it, you may not be able to come back to the market again.

FED meeting, 2.15am release of policy statment

Flat top on indices mean gng down

Hi
Let me share on alittle observation on the indices...

look at dow jones, S&p500, Nasdaq they all have a similar pattern where they will move up and hit certain resistance. This will prevent the price from moving higher and form a flat top. This flat top will produce mkt drop. Let take a look at S&p500



From here u see, flat top will make mkt drop...so this time round there is a flat top, which may produce a mkt drop.
As i am talking here, the dow is down 82, Nasdaq down 31, S&P500 down 11