Forget the Head and Shoulders Pattern. Watch This Instead.
Is the S&P 500 really forming a head-and-shoulders top? Dave Keller explains why the answer may surprise you—and why three other charts could provide much more valuable clues about where the market will go next.Instead of forcing a bearish chart pattern that doesn’t quite fit, Dave breaks down the suppo rt 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.
ℹ️ More info on Dave's Market Trend Model: https://youtu.be/6rf_jmNr40w
✅ Dave's daily market recap show: http://marketmisbehavior.com/chartthis
00:00 - Is this a Head & Shoulders Top?
01:31 - Why This Isn't a True Head and Shoulders Pattern
07:30 - The Support Levels That Really Matter
11:35 - Dave's Traffic Light Approach to the S&P 500
13:50 - Market Trend Model: Bullish or Bearish?
18:17 - Market Breadth Is Telling a Different Story
20:05 - Final Takeaways
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❗️DISCLAIMER
Past performance is not indicative of future results. Neither the Show Participants
nor StockCharts.com guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed on the show.
Strategies or investments discussed may fluctuate in price or value.
Investments or strategies mentioned in this show may not be suitable for you and
you should make your own independent decision regarding them. This material
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or needs and is not intended as recommendations appropriate for you.
You should strongly consider seeking advice from your own investment advisor
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