EOD: Volatility signal [lower] suggests more upside to come in the market. SP-500 is approaching the first thin blue neckline around 4440 - 4450 but that does not look like a realistic neckline. Better candidates are lower down if this is a head-and-shoulders formation.
1:00pm EST: Dow Industrials has the best form currently for a daily closings price head-and-shoulder structure. It should not matter which index fits more or less as in the 2015 top, the Dow Industrials had the better form at that time also. Symmetry could use a little more time- perhaps up until early November 2021 for the pattern to look better.
Original post-
The possible H/S symmetry needs more index right shoulder formation [brown line projection] and so far, that appears to be the intent as the price action seems constrained to that particular zone for now. Breadth is printing overbought numbers and [market] upside turn signals have been less than impressive.
Chart is from 10/13/21-
The bots will flag here when they see a top. (1/25/20, 2/20/20)
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