Replies to post #84857 on SPDR S&P 500 (SPY)

[Fox13]

Hi 2Bit! What I was trying to say is that the H&S pattern is a reality: it happened! What it is “predicting” is another story…as Dan correctly pointed out. If we just plot all the data that we have, including envelopes and straight regression channels, we might get an idea of what is the most probable move. One more thing: here these cycles are all short and have been drawn to fit retroactively the H&S pattern. They are derived from it and this is the way in which they were “discovered”. They did not predict the latest UP move. They are (after the fact) compatible with it. If their discovery is worth 6 pence, the market should further move for while along the lines of that drawing.