(Click On Chart To Enlarge)
Traditionally in a H&S Top, the Right Shoulder should be lower in height than the Left Shoulder, and it should be narrower in width than the Left Shoulder.
This pattern is unorthodox in that it violates both of those strictures, but the 877 target got MADE, nonetheless. It's best not to be too rigid about these things. "If it walks like a duck ... quacks like a duck..."
Math for the target:
High of the pattern: 917
Neckline: 897
917 - 897 = 20 Points. 897 - 20 Points = Target 877 IN PLAY.
Targets are just what we're "aiming for." That doesn't guarantee that they will get MADE, or that price won't continue lower. In this case, the target has been exceeded on the downside. The SPX currently is at 872.
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