SPDR S&P 500 (SPY)

[2bit-nothing]

You,,

Thanks for sharing but not buying the H&S scenario. SPX 910 is support and NASDAQ is not conforming. The market will probably retest 937-940 area (give OMAN his 19 points) and fall because of the up channel and it will possibily follow fib no and not an H&S. His reading of the AD line is not exact, for the black line has not indicated a trend change. Further, I would be doubtful of his interpretation of the lagger MACD. Many make the mistake of using MACD to figure direction, as oppose to using price action. If price changes, you will see the MACD changes. For example, many look at MACD mid day Friday to interpretate a bearish representation but by EOD when price has gone up, MACD was bullish. Looking at price action Friday, it was bullish all day.

2bit