If the lows hold, we could be building the head of an inverted H&S with NQ (QQQQ/NDX applies as well)on the daily chart. I'm jumping the gun a little (that is what I'm paid to do) but that would put the neckline around 1610, then a drop down to 1530 for the right shoulder, and off we go. This all depends on the lows holding now and a rally out of this to above 1530 by the end of the month.
This entry was posted
on Tuesday, July 18, 2006 at 9:38 AM.
