MDA - Market Direction Analysis

[augieboo]

DNS, the idea that an H&S formation should have volume which tapers on each successive upswing is really just a myth. In reality, a large percentage of H&S formations do show such a volume pattern, but there is no evidence that such a volume pattern is necessary to the formation, nor is there any evidence that it makes a difference in how the formation acts once it breaks below the neckline.

One further observation:

I have been out for a few hours, so I am just sitting down to take a look at things, but today's action looks a bit blow-offish at first glance.