A Much More Sustainable Equity Market Advance
Goldman Sachs released a great chart in October showing S&P 500 earnings per share against the index's prices. The chart tells a ver...
Goldman Sachs released a great chart in October showing S&P 500 earnings per share against the index's prices. The chart tells a ver...
2 comments:
I like the downtrend line at the top of your channel but I disagree with the line marking the bottom. It looks like the market is forming a reverse head and shoulders pattern with the neckline being your top downtrend line. I'm looking for the Dow to trade down near the 8000 level and hold forming the right shoulder. Then we'll break above the neckline starting a new uptrend.
I appreciate the comment but I'm not sure it's worth predicting uncompleted chart patterns at this point. A reverse head and shoulders pattern may setup and I will highlight it if it does but until then, I believe the descending channel is the only pattern that is evident.
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