"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 12 hours Institutional Investors Hold A Lot More Crypto Than You Think
  • 13 hours U.S. Treasury Yields Could Be About To Break Out
  • 14 hours Tesla Stock Stumbles On Model 3 Cancellations
  • 15 hours Yuan Rebounds At The Expense Of The U.S. Dollar
  • 17 hours Iraq Unplugged: No Internet, No Protests, No Money
  • 19 hours The Tariff War Could Spark A Debt Crisis In China
  • 1 day Gold Selloff Continues As Dollar Climbs Higher
  • 1 day Gold Investors In A Frenzy Over Sunken Russian Warship
  • 2 days The New King Of Electric Cars
  • 2 days BlackRock Goes Bitcoin
  • 2 days U.S. Banks See Best Earnings Report In Years
  • 2 days The Case For Gold Is Not About Price
  • 2 days Stock Market Sentiment Turns Bullish
  • 2 days What Is Bitcoin Really Supposed To Be?
  • 2 days The Surprising Media Giant Taking On Netflix
  • 3 days Cybersecurity Stocks Are Red-Hot As Election Looms
  • 3 days Americans Grow Weary Of U.S. Trade Policy
  • 3 days What Putin Really Wants From Trump
  • 3 days Europe’s EV Sales Growth Is Slowing
  • 3 days The Looming "Hyper-War"
Stock Market Sentiment Turns Bullish

Stock Market Sentiment Turns Bullish

Quarterly earnings reports have lifted…

Netflix Shock Hits FAANG Stocks Hard

Netflix Shock Hits FAANG Stocks Hard

Netflix released its surprising second…

3 Reasons Small-Cap Stocks Are Booming

3 Reasons Small-Cap Stocks Are Booming

As major market indexes waiver,…

Ed Carlson

Ed Carlson

Ed Carlson, author of George Lindsay and the Art of Technical Analysis, and his new book, George Lindsay's An Aid to Timing is an independent…

Contact Author

Three Peaks and a Domed House Revisited

Taking a fresh look at the Three Peaks/Domed House chart recently I had a "funny" thought. In the current pattern, the May 19 high reached 127.2% of the Jan decline (the final high of this pattern has always been a Fibonacci relationship to the extent of the decline during the First Floor Roof). There's no reason the Dow can't rally to a higher Fib ratio but the May high is an almost perfect 107 day interval from the Feb low. What if the top of the bull market is already behind us?!!! Lindsay's template calls for a final head-and-shoulders topping pattern and a potential pattern can be seen on the daily chart below.

The neckline of the Head-and-Shoulders pattern was broken on Thursday but we can't forget that the high may come more in tune with the cycles in the Dollar and commodities later this month. A 107-day interval from 2/20/15 will expire on June 12 but a break of the 150-dma (Friday's close) will make any higher high unlikely.


Larger Image


Try a sneak-peek at Seattle Technical Advisors

 

Back to homepage

Leave a comment

Leave a comment