The Great NASDAQ Head and Shoulders Top
Submitted by RiskAverseAlert on Thu, 09/24/2009 - 20:30.
Many market commentators are quick to point out so-called "head-and-shoulders" patterns without giving any thought to form symmetry requirements, left shoulder versus right shoulder, as well as specific, accompanying volume characteristics. Well, the NASDAQ Composite has got it going on ... and its head and shoulders top, spanning over 25 years, suggests levels last seen in 1987 are COMP's minimal downside objective straight ahead. Indeed, recent developments make all the more ominous negative implications of NASDAQ Composite's massive distribution over the past decade, because its head-and-shoulders top continues being confirmed even presently.
Read the full article: http://stock-index-options-alert.blogspot.com/2009/09/stock-...

