Don't Ignore This Chart!

A head-and-shoulders pattern for Greek equities

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The DJ Greece Index ($GRDOW) shows a potential head-and-shoulders pattern evolving over the last five months. This version is a continuation pattern. A move below the October low would confirm the pattern and target lower prices.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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