S&D, S&R, Trends, Fork's and Turnarounds, page-444

Like our market yesterday, the Dow and S&P both tapped out at oblique resistance.  So far, I don't find this at all convincing.  Had it smashed through with a bit of intent, I'd feel a bit more confident that things were good.  I know that it is a waiting game, but with the major weakness hovering over our banks I'm not at all convinced of anything other than a top.

I'm still reacquainting myself with a lot of old charts that I used to follow and I was quite shocked when I looked at the long-term CBA, WBC. CBA is playing out a very long H&S.   The index is putting in a daily head & shoulders bottom pattern.  If it plays out in a positive manner, it only gets it to where all the resistance way left sits on the chart and to logical oblique resistance on the active fork - possibly around mid December, should it break upside.

I posted this Nasdaq 100 monthly chart elsewhere recently and wonder if this is really mirroring the apparent top in the S&P. Can Humpty Trumpty and all his men put it back together again?

This is all just academic interest for me - I just like reading the charts and getting an inkling of what is going on.