The ValueLine Arithmetic (VLE) Square of 90 using trading days shows price 180 TD beyond the March low. Interesting that the left shoulder of the head-and-shoulders formation occurred 45 days into the second 90 day cycle, the head at the 3/4 time line, and the shoulder finished at the 180 day mark. A new high would negate the H&S but I would not be surprised to see price drop throughout December.
The VLE swing chart shows topping action during the past month. Also note that the high was within one percent of 8 complete square of 9 cycles from the March low. This is another reason not to be surprised if the high is in.
OMG have any of you seen the futures this morning….!!!!!!