augieboo's depository of gold

[Little Joe]

Thanks for starting this thread. I think it will be fun and we can all share our knowledge. I am not sure that I would call the formation a H&S. The left shoulder if I am reading what you see is highly questionable and the neckline ascends very sharply. Also, if there is a head and shoulder by my read the neckline has been pierced. I really don't think there is a left shoulder at all. This is because it is too far from the head and not clearly formed. I think the better technical approach to this market is to watch the pennants that are forming in some of the best gold stocks. I will follow whichever way those pennants break. I suspect that they will not all break out at the same time and that we may get a few hours to a day's warning. That is when I will pull the trigger.


Little joe