Comments on: Late Session Stock Market Analysis 10-9-18

By: rsotc

rsotc — Wed, 10 Oct 2018 18:35:06 +0000

In reply to surerefund. IHS's are bottoming patterns that come after a prolonged downtrend. Ideally, both Head & Shoulders topping patterns & IHS bottom patterns should take weeks to months to form & are best used on the daily or weekly time frames. While I've seen them work on intraday charts, the success rate is lower than the longer term patterns & although the IHS being referred to here did have decent symmetry, the downtrend leading up to it wasn't very big nor did the pattern finish forming with a fully-formed right shoulder.

By: jst20946

jst20946 — Wed, 10 Oct 2018 13:19:08 +0000

In reply to surerefund. I thought the same...

By: Sonelay

Sonelay — Wed, 10 Oct 2018 01:53:46 +0000

In reply to surerefund. Good question

By: surerefund

surerefund — Wed, 10 Oct 2018 01:36:57 +0000

In reply to Sonelay. Great catch. I rewatched the video and saw the potential inverse head and shoulder patterns, too. The right shoulder is being formed and the neckline is $180.82. The breaking above $181 would be great for bulls. Does anyone know if inverse head and shoulders form exist in a major bull market?

By: Sonelay

Sonelay — Tue, 09 Oct 2018 23:19:58 +0000

While watching your QQQ analysis I noticed a reverse head and shoulder pattern on the 15 minute time frame there.