3rd Aug 2011–Pattern Study - Missed the BIG CRASH again!!!

 

Ticker:

 

1. SPY, DJIA, NASDAQ

 

Topic:

 

1. Head-n-Shoulder Pattern

 

Lesson Learnt:

 

1. Again, I missed the BIG CRASH !!! What was I doing?
2. SPY and DJIA both punch through the neckline of their head-n-shoulder as well as their 200MA lines.
3. NASDAQ neckline intact but 200MA line is broken.
4. Volume is pretty high.
5. House and Senate both passed the debt ceiling deal and Moody affirmed that USA is still Aaa, but market took the opportunity to trash it.
6. What's next? …… Watch closely!

 

Intraday Chart

-NA-

Historical Chart