Am i seeing things? Is this an inverted Head & Shoulder pattern? FAZ is a short banks ETF. If this is really an inverted Head & Shoulder pattern, then we can expect banks to drop next week. Having an inverted H&S pattern doesn't mean that it cannot be a failure as well. Patterns can fail. In the stock market, nothing is cast in concrete. Anything can happen. The inverted H&S pattern is considered a failure when the stop loss is hit.
AA has a H&S pattern.I have a post on it a few days back. Currently, AA seemed to be retesting the resistance. If the resistance hold, we should see AA moving down from here.
I am waiting for SOLR to rebound from its sell-off. If it really comes up to this level, it will be a short selling setup for me as indicated by the Ichimoko Clouds system.
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