Head & shoulders patterns
Question: Just read Jon's Mar 25 piece. He refers to a bullish head and shoulders, but in my experience a bullish H&S is a bottoming pattern. It appears at the bottom of the chart segment.
Can a bullish H&S appear at the top of the chart?
Jon: A H&S pattern can occur at any place on a chart. It can be a great sign of a bottom, as you suggest, but can also appear during a bullish move, signalling the start of another leg up in the market.
Question: For the transportation average, as for whether it is a head and shoulder or a double top, would the spike in volume be the telling factor? Just wondering.
Jon: I'll be honest here and say that I've seldom found volume to be as helpful as others seem to feel it is. As the Transportation Average chart showed in my March 25th ... Log in or subscribe to continue reading.
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