Head and Shoulders Bottom breakout? The text book target is $114.40 which roughly is around the January high (at $114.66).
The bottom line, I don’t generally trade against my own signals which still need awhile to switch back to BUY mode, so the strategy is still to sell the bounce. However, as more and more bottoming signals are piling up (I’m going to add one more tonight which weights a lot in my mind), so I’ll be very very cautious in selling the bounce from here.
The WOW I mentioned yesterday isn’t over yet, a record high is reached today (assuming of course, I calculated correctly), so I’m going to keep WOW-ing tonight. The last 6 times I WOW-ed were in 05/18 Market Recap, 05/12 Market Recap, 05/03 Market Recap, 04/29 Market Recap, 04/20 Market Recap and 04/14 Market Recap. Let’s see what it will bring us this time.
P.S. The DISQUS system seems wrong on my blog that everyone’s comments are gone. Just let you know that it’s not me who removed all your comments. I think they’ll come back eventually.