fuzzballl 11:02 am on Monday, October 30, 2017

H & S ??

Not a big chart guy….is this a head and shoulders top? Breaking support at the shoulder line?

jsd501 11:03 am on Monday, October 30, 2017

Yup, sure looks like one.
- fuzzballl 11:05 am on Monday, October 30, 2017
  
  It’s EWZ. I’m short 40/45 strangles considering rolling the 45’s down to about 42 just above the leveling off 50ma (red line)
jsd501 11:06 am on Monday, October 30, 2017

You could also say it is a rectangle that has broken the support line.
- fuzzballl 11:07 am on Monday, October 30, 2017
  
  That’s true. Not sure if the spike high red bar actually counts as a head…
jsd501 11:09 am on Monday, October 30, 2017

Just looked at the chart on EWZ. There is support at 37 to 38. The 200 DMA is at 38 so I would not get too bearish.
- fuzzballl 11:11 am on Monday, October 30, 2017
  
  Should have some resistance on the way back up. Lots of moving averages to get through now. 38 definitely on my radar….that’s where I’ll be setting up another Whiz style trade on it.

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