Last week we put together a really simple way to identify Head and Shoulders patterns in stock charts and we have a daily list of stocks with potential Head and Shoulders – BUT, these are experimental of course. This where the human interacts with the technology. We have an algorithm that searchs for potential patterns, then it is left to the human to determine if it really is a Head and Shoulders formation. And what does it mean if it is a correct formation in the eyes of the human? That is left to the human to decide.
And in that spirit we put up a new page which lists stocks with potential Inverted Head and Shoulders chart patterns. To be honest, when I look at these patterns they do not seem to be as disctinctive as the regular H&S formations. Any chartists want to give us some feedback?