Is Dow forming 'Head and Shoulders' ?

Is the Dow forming 'Head and Shoulders' reversal pattern? If it is Head & Shoulders, the minimum target will be 8400. Personally I don't think it is forming 'Head& Shoulders' pattern for two reasons. First reason is that the right shoulder is too small and the duration is too short. The second reason is the non-confirmation of volume pattern. A typical Head & Shoulders volume pattern will have the highest volume at the 'left shoulder' follows by a lower volume at the 'head' and a lowest volume at the 'right shoulder'. The above chart shows that the 'head' has the highest volume and the two shoulders have about the same volume. I am still thinking of an ABC wave II with wave C having the same magnitude as wave A. That will bring wave C to about 9300.

Art Harun

This latest article from Art Harun 'Kami Tak Kow Tow, Kau Tau?' is simply great.