NASDAQ - Symmetrical Triangle Breakout

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After the 2538 target MADE off the first Bullish Inverse H&S (pattern in purple), the NASDAQ went down and validated the trendline off the St. Paddy's Day low, printing 2430, just one point above 2429 horizontal support from the May 9 low.

From there, the NASDAQ established data points #3 and #4 of a Symmetrical Triangle (pattern in green), and broke out of that to the upside yesterday, June 5, closing near the first target, the May 19 high of 2551.

The Symmetrical Triangle breakout also put 2639 IN PLAY, which is very near the 2630 target IN PLAY from the second Bullish Inverse H&S (pattern in blue). The 2630-2639 targets also would get the NASDAQ up toward the top of the channel (red).

Despite how well the NASDAQ has acted, we always want to be looking the other way, in case it Double Tops here at 2551 and 2550. Negatives would be:

1. A close back inside the Symmetrical Triangle
2. A close below the channel (red), which is a validated trendline
3. A takeout of 2460 (Green #4)
4. A takeout of 2429 and 2430 (Green #2) horizontal support