Replies to post #109244 on Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

A drop to 90.57 on the USD may set up a H&S if we can bounce to 102 or so. That target would be around 71 on the USD.

http://stockcharts.com/def/servlet/SC.web?c=$usd,uu[h,a]maclyyay[d19900124,20030519][pb50!b200!a90.5...

I don't have the ability to go back further than 1990 on stockcharts. I'm intrigued that the inverse H&S formed by the 78.43 bottom and the 98.23 and 97.85 tops exceeded their target of 116. The 71 target on the USD would be quite a drop from these levels. However, the inverse H&S took nearly 7-years to hit its target once the neckline was formed, so we may need to be patient.

The formation of a right shoulder at 102.8 or so could coincide with a market peak around the July 2 Bradley turn.