How Do You Spell 'Ugly?' Russell 2000 And DAX
Peter Brandt | Oct 07, 2014 12:26AM ET
Tops of significance are forming in the U.S. Russell 2000 as well as in the German DAX.
The Russell 2000 is constructing a complex rounding top pattern. A decisive close below 1060 would complete this pattern and confirm a bear trend.
The DAX is forming a classic H&S top pattern on the weekly and daily graphs — the market is currently in the right shoulder.
Of interest is the horn top that formed as the head in the DAX. I note that the potential topping action in the NASDAQ 100 resembles the horn in the DAX.
It is vitally important to remember that a potential top is just that — potential. These patterns could also serve as continuation formations or could morph into more prolonged chart configurations.
Disclosure: The information in this post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the post, please see my Disclaimer page for my full disclaimer.
/h2
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.