AJ, again, we'll have to agree to disagree.
<<Since price does not go back in time>>
The PATTERN goes back in time, or there would be no left shoulder. Now, obviously the only reason for extending the line backwards is to show that there is a left shoulder that's in relationship to the rest of the pattern, not because you expect price to change in the past. But that is the definition of head and shoulders: three peaks, etc. In other words, even if you don't extend the line to the left, you still need a left shoulder -- a third peak, if you will, that is related/in scale to the other two.
On the SPX, if you look at volume (as every H+S definition I can find on the web does, including the ones you've referred to), you'll see it also doesn't follow the H+S metrics here, including a lack of volume expansion on the purported neckline break. Now, you can feel free to pick and choose working parts of definitions that you view as valuable, but if a pattern has a certain set of criteria studied and observed over decades, it's probably not so wise to ignore one part while still calling your pattern the same name. Call it the FUFREEP or the AJTJMILLIONDOLLARBABY or something... or look for other patterns that are already defined and exist in the charts.
Obviously, H+S patterns do exist. So do inverse H+S patterns. That's why there's reams of writing and definitions about what they are. I love a good H+S to trade (BVF was my best put play ever due to a picture perfect H+S that broke to the norm). So you can sarcastically cast doubt on your own pattern calls if you want, but I'm always happy when there's a real H+S afoot.
the freep
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