Browse Symbol Stacks: XLF: xlf
Financials ugly pattern, just above severely up-sloped neckline. A break of neckline look out below.
It could be a H&S pattern, but why assume? Upsloping necklines that are that steep are highly unreliable, because what is the difference between this supposed H&S top and a basic channel? If this is a H&S top, then all rising channels are H&S tops.
Good point Dink. That's why I didn't call it H&S. Whatever it is, a break of the green line is bearish. That was the point. Also, it failed to make a higher high after hitting the top of the trend channel and is below the MA 50's.
My mistake; you didn't call it a H&S pattern. Apologies.