[moneymaker]

Hello all,

Is this a head and shoulders inverse?

Thank you.

Anybody wants to throw in their 2 cents?

[isatrader]

Hello all,

Is this a head and shoulders inverse?

Thank you.

Based on what you showed it's looks like it. One thing to watch for with inverse head and shoulders, is that you want the right shoulder to have a higher low than the left shoulder did. Although it is not always necessary, it would be an additional sign of strength.

[moneymaker]

Based on what you showed it's looks like it. One thing to watch for with inverse head and shoulders, is that you want the right shoulder to have a higher low than the left shoulder did. Although it is not always necessary, it would be an additional sign of strength.

Thank you isa.

[davep]

Hi, do you use the point and figure bullish percent index to help determine trend either for the major indexes or sectors, and stocks. If yes or no can you explain its usefullness or lack of,
Thank you

[isatrader]

Hi, do you use the point and figure bullish percent index to help determine trend either for the major indexes or sectors, and stocks. If yes or no can you explain its usefullness or lack of,
Thank you

Yes, the NYSE Bullish Percent is one of my favourite breadth indicators for trend, as the buy signals it produces are infrequent - only one every few years or so. But when we do get them, after it's been in the oversold lower zone (below 30%) for a while, they are normally strong indicators of a trend change imo.

They are not precise in terms of market timing though as are much slower to change than other more sensitive breadth indicators, and so are often used as a confirmatory signal to support other earlier movers like the Percentage of Stocks above their MAs, Advance Decline Line, and New High New Lows etc.

[briansmith456]

Hi,
I was wondering whether the cloud for LMC.TO on the weekly is an issue for this stock on the  weekly given the massive volume last number  of weeks? Perhaps it can be bought now given that it does not appear too extended.




Thanks,
Brian

[isatrader]

I was wondering whether the cloud for LMC.TO on the weekly is an issue for this stock on the  weekly given the massive volume last number  of weeks? Perhaps it can be bought now given that it does not appear too extended.

Resistance can be overcome easier when there's consistent large volume, and a broad sector move like gold stocks have been having in the last few months. So some of the weeds are able to get through.

[briansmith456]

Hi,
I was wondering if TMQ this is  a great buying opportunity or a warning sign? It is down on double avg weekly volume but looks to just be pulling back closer to the  30 ema.

Thanks  for your thoughts,
Brian