Yesterday’s action brought doubt to many traders about the validity of the inverted head and shoulders pattern I have been mentioning. As you can see in the chart below, the neckline was not broken to the downside, this action is similar to the action in 2006. After four days up, the market merely experienced a short term correction. For now, I still belive the market will continue higher, but as new price data enters the picture of this constantly changing landscape I will adjust my views accordingly. My number one concern is not where the market will be in a week or two, but what can I do to make money TODAY!

2006