Josh at The Reformed Broker breaks out a chart showing “a blueprint for a potential head-and-shoulders topping formation with either the S&P or the DJIA currently sitting at the neckline.” Here’s the chart:
Josh says the ”right shoulder is coming’ meme will eventually go mainstream.” I’m no chartist, but when I stare at that chart, I have to admit that I don’t see the head-and-shoulders formation. I see something else. I see Batman’s cape:
I remember the old “Bat cape” trade of March ’09. When you see the Bat symbol, get on the right side of Batman.