Friday, November 6, 2009

Head & Shoulders Again. Will This Be the Real Thing?

The entire media was obsessed with the previous H&S we got in August that turned out to be a head fake.  Now everyone sees the pattern but no one is willing to give any weight to it.

Also the volume has markedly picked up on the declines and volume on the uptrends is anemic.  Despite what feels to most observers as a raging bull market, these are not the characteristics of a recovery rally.

Yet another data point in the mosaic that tells me that this rally is a mirage.

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