mr cash, if it was textbook t/a, everyone and their grandmother would've saw that top coming. Wouldn't you agree? Even the CNBC talking heads would be all over it. Instead, it was quite the inverse, the talking heads were pumping the markets while the sheep loaded their funds in November and December.
Now I'm aware that textbook t/a teaches you about a head and shoulders top in the manner that you explain it. But I guess I've manufactured my own versions of t/a that works for me and my goals and it works in helping me get the message out of what I believe was correct in posting, and I did so in a timely fashion on 12/30. Now we look back and we can see how successful that chart has become, and if it breaks down, it will become even more successful, as it ties directly to my prediction of the Nasdaq bottoming in the 1400's around April.
Maybe christ will enlighten me, and I'll get my Edwards & Magee textbook out next time (as you say), and look for a textbook top. I'll be sure to read up on it every time I visit the bathroom. Until then, I think my version of t/a is working out just fine, and you won't find my t/a being talked about by clueless talking heads.
We'll call it a secular bear/irrational exuberance H&S. And yes, I made it up myself, but you won't find it in any textbook, as it is not a common formation. That is, if you agree we're in a secular bear market. If not, well than, that's a whole another story... and it shows your strong disagreement of my chart to begin with.
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