Bullish Pattern Alert: Inverse Head & Shoulder

Zacks' Voice of the People Highlights user inthemoneystocks: "Bullish Pattern Alert: Inverse Head & Shoulder" from the People & Picks community.

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Bullish Pattern Alert: Inverse Head & Shoulder

The markets and the SPDR S&P 500 ETF (SPY) have an inverse-head-and-shoulder possible breakout coming. Should the markets break to the upside above the inverse head and shoulder neckline, this market should head to $109.50 on the SPY...

The markets are hovering slightly higher on this extremely light volume Monday. This week, the markets are awaiting the Non-Farm Payrolls and Unemployment Rate on Friday. In addition, this coming week is the July 4th holiday. That will make for a very light volume week.

Light volume usually is a positive for the markets and it appears we are seeing that today. The SPDR Gold Trust (ETF) (GLD) hit a new all time high of $123.56 before pulling back and turning negative. Oil is hovering just slightly negative on the day. The United States Oil Fund LP (ETF) (USO) down 1%.

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