Have We Hit The Top?

[gfp]

Interesting that the entire SPX has formed a head and shoulders pattern.  I'm not predicting it will break down or advocating people should change their investment positioning - but something to keep an eye on since there will be others watching for a close below that neckline.

 

[brobro777]

3 minutes ago, gfp said:

Interesting that the entire SPX has formed a head and shoulders pattern.  I'm not predicting it will break down or advocating people should change their investment positioning - but something to keep an eye on since there will be others watching for a close below that neckline.

 

 

Haha I read Technical Analysis of Stock Trends by Edwards and McGee many years ago

 

 

[TwoCitiesCapital]

21 hours ago, gfp said:

Interesting that the entire SPX has formed a head and shoulders pattern.  I'm not predicting it will break down or advocating people should change their investment positioning - but something to keep an eye on since there will be others watching for a close below that neckline.

 

 

Even if a true signal - isn't the drawdown expected to be symmetrical to the head to the neckline? So in this case about 20 pts or ~3%?

Edited December 31, 2024 by TwoCitiesCapital

[gfp]

57 minutes ago, TwoCitiesCapital said:

 

Even if a true signal - isn't the drawdown expected to be symmetrical to the head to the neckline? So in this case about 20 pts or ~3%?

That’s right - Panic!!

[james22]

On 12/26/2024 at 6:28 PM, james22 said:

Encouraging.

 

But what we're missing here is that we've had decades of just sitting on our asses, leveraging cheaper labor versus going out of our way to really push the boundaries of engineering and manufacturing. And now that we have a company that's willing to do that because the leader is viewing that as a first principles approach to manufacturing, right? Instead of like, okay, cheap labor is good, but why aren’t we pushing manufacturing and engineering as much as we can to make this as efficient and as productive as possible?

 

https://www.zerohedge.com/technology/musk-led-manufacturing-revolution-nobody-talking-about