Ron Griess of The Chart Store recently mentioned to me that “one of the most bullish patterns around was a failed Head & Shoulders.”
Those comments are appropriate this morning, as we may soon find out if those H&S’s on the major stock indexes fail or manifest themselves as bearish signals.
Nasdaq, S&P, Dow Jones charts below.
Nasdaq Daily 2008-10
S&P500 Daily 2008-10