Wednesday, June 13, 2012

DJIA possible IHS

The DJIA low this month was on the Monthly S1 pivot point. The high so far this month is at the Monthly Pivot(P). It looks like a possible inverse head and shoulders(IHS) pattern setting up at 12300ish. If 12300 breaks then look for the open gap at 12130. I still feel this pullback won't end until we test the yearly  pivot point(P) at 11836ish. We should see that sometime in the next few weeks......probably next week is my best guess.