At Friday’s close, technicians were generally pretty bearish on equity indexes, based on the head and shoulders pattern identified below. (Click images to enlarge.)

Of course, this particular setup hasn’t panned out well so far:

In the jargon, this week’s rally decisively violated the neckline and pushed up to attempt a retest of the right shoulder. I [...]

At Friday’s close, technicians were generally pretty bearish on equity indexes, based on the head and shoulders pattern identified below. (Click images to enlarge.)

Of course, this particular setup hasn’t panned out well so far:

In the jargon, this week’s rally decisively violated the neckline and pushed up to attempt a retest of the right shoulder. I [...]

Yesterday, the market started off on a weak note and it never recovered. It convincingly broke below the neckline of the head and shoulders pattern. That also represents the 200-day moving average. From a technical standpoint, the market is very weak. After an initial rally this morning, the market quickly reversed and it is testing [...]

Yesterday, the market started off on a weak note and it never recovered. It convincingly broke below the neckline of the head and shoulders pattern. That also represents the 200-day moving average. From a technical standpoint, the market is very weak. After an initial rally this morning, the market quickly reversed and it is testing [...]

Yesterday, the market started off on a weak note and it never recovered. It convincingly broke below the neckline of the head and shoulders pattern. That also represents the 200-day moving average. From a technical standpoint, the market is very weak. After an initial rally this morning, the market quickly reversed and it is testing [...]

This morning, the market is extending losses from Friday’s weak Unemployment Report. The jobless rate rose to 9.5% and the economy shed 100,000 jobs more than expected. Until now, bulls have been able to discount the number calling it a lagging indicator. Month after month, the number has disappointed the Street and last week’s number [...]