Head and Shoulders

Tyler Durden's picture

EURJPY Head And Shoulders Rolling Over As Go(l)dman Goes Red

Our European central bank friends went and borrowed a trillion dollar bailout from us, and all we got was this lousy 6 hour bounce and rolling head and shoulder formation? Goldman Sachs is now red as the bears smell fear again, and as goes Goldman so does the market (even if it means a Warren Buffett MBO/LBO of every public stock). Look for a fun close or the announcement of another trillion dollar bailout from JCT who is now and forever the butt of every joke of bureaucratic incompetence.

RobotTrader's picture

Head and Shoulders Shampoo

After today's action, thousands of technicians will be pulling out their slide rules in order to mull over the "double top" or "head and shoulders" pattern on the NY Composite. With millions of traders worldwide all looking at the same moving averages, the same patterns, the same 5-min. charts, all in real time, the fate of the stock market and the fate of mankind will now be determined by a few squiggly lines. Which way will it go?

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