The Power of the Pattern reflected a potential bullish Head & Shoulders pattern looked to be forming in the chart below (see post here)
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Below is an update to the potential Inverse H&S pattern…
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Line (2) resistance line is now close at hand due to a strong rally of late. The big test to this pattern will be if IYM can break the neckline (2) and move higher.
The prior posting said IYM could rally at least 10% on an upside break….IYM is up over 12% since the last posting at (1). The broad market needs IYM to break resistance for a bigger upside across the board rally!
