Tuesday, August 16, 2011

Head and Shoulders Knees and Toes

Following, I noticed the biotechs have mostly completed and confirmed a head and shoulders top , such as $ILMN. I am looking for others in the sector to follow suit. Notice a few things: The volume , or lack thereof on the right shoulder, the bearish wedge, low volume neckline retest, and the targets derived from a measured move forecast is usually former strong support:

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