Forget the Head-and-Shoulders Pattern, Watch This Instead

[cliffside]

"Is the S&P 500 really forming a head-and-shoulders top? Instead of forcing a bearish chart pattern that doesn’t quite fit, Dave breaks down the support and resistance levels that matter most, introduces his traffic light framework for evaluating market risk, and explains why the 7340 support zone remains critical. He then steps back and assesses the bigger picture, using his Market Trend Model and market breadth. Dave shows why medium- and long-term trends remain constructive, why advance-decline lines continue making new highs, and how these three charts can provide a more reliable framework for navigating today’s choppy market environment."

JUNE 29, 2026 AT 08:06 PM

https://articles.stockcharts.com/article/forget-the-head-and-shoulders-pattern-watch-this-instead/

[usonian]

1. Transcript. I like to save text files for search, copy and paste and so on. No graphics, though.

https://pastebin.com/raw/r3cZbJht

[cliffside]

2. Thank you for doing that as I skimmed over parts of the video ...

best tip I ever got on yahoo finance many years ago was a recommendation for the Edwards and Magee book ... just looked, first edition was in 1948.