Inverted Head & Shoulders Update

The Nasdaq 100 is clearly stronger than the SPY right now as the Qs have broken past the neckline of the pattern I began to outline in my videos on Tuesday. Using the measured move (and measuring it very conservatively) the upward target for the Qs would be approximately 51.00. As I always warn, do not use an upside target like this blindly, instead manage your positions by raising stops. Price targets merely give us a potential of where the market can go. I think a move back below 47.50 would invalidate this pattern.