Yesterday, I pointed out the possible development of a Head & Shoulders top technical pattern. I was not pleased with the right shoulder but said we could see the development of that shoulder in the coming days. That could be what occurred in today’s trading. If price trades much above today’s high, it will likely negate the topping formation. Price could trade above today’s high, but if the internals diverge from today, expect a turn down. Higher prices and a continuation of the strengthening of the internals will signal the rally is continuing.
