There's no comfort in the truth
Pain is all you'll find
--Wham
Am seeing more head-and-shoulders patterns (representative one below) than I've seen in a while.
When this pattern becomes apparent across many stocks/sectors, it's often a sign that the tape is changing its tone.
position in SPX
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
1 comment:
The head and shoulders pattern is one of the most common reversal formations. It is important to remember that it occurs after an uptrend and usually marks a major trend reversal when complete.
~stockcharts.com
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