Sunday, May 20, 2012


well here is another H&S i missed but too late I think to jump in on a short or sell. Its look like Apple has completed about 1/3 to half of what I think Apple will fall to. I have a target of 475 which is just above the 200 day average but give time the 200 day may meet the price and support when it gets there . Will have to wait and see.

Disclaimer: Steelman's Technical Charts are my own amateur interpretations of technical charts and for informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. Steelman's Technical Charts assume no responsibility for your trading and investment results.

Saturday, May 19, 2012

XLF looks almost like the SPY

another reason could get a bounce Mon. the XLF just completed a H&S pattern too.

SPY completed H&S TOP

Well its been a while since I posted working a new job ans 9 to 5 now but will try to get more in. The SPY just played out a beautiful Head and shoulders top. it hit my predicted measurement for it on the close on Fri so should be a bounce come Mon. If we break this support then could be real trouble in the markets. the next support would be the 200 avaerge marked in red.