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Classic Chart Pattern Predicts Bad News Followed By Good News

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Not applicable
The investor's daily edge says quotes the above and says: I noticed what appears to be a very well defined inverse head and shoulders pattern. Look at the weekly chart below to see the different parts of the formation. I can forwrd the email to anyone wanting it
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6 REPLIES 6
SimonPB
Valued Contributor
except that charts predict nothing ..
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Not applicable
i can agree that a pattern often does not predict what it is supposed to, but i am reading Finweek (28 aug 2008) and in it they use a head and shoulders to predict a goodbye kiss as they call it. They further state that:Beware the bear trap. Dows goodbye kiss previously often forecast further price drops (below this is a head and shoulders graph).
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forgot to say that the inverse head and shoulders chart was sent via email to me and i can forward the chart to people wanting it
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MoMo01
Frequent Contributor
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Vagabond
Contributor
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MoMo01
Frequent Contributor
why do the charts predict nothing o wise simon,plz do elaborate
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