Don't tell anyone, but the 2-week General Electric (GE) pattern resembles an inverted Head and Shoulders base. If GE hurdles and sustains above both 17.20 and then 17.70, which represent the neckline of the pattern and the September-December resistance line, then we should expect a potent upside continuation towards a minimum target of 20.30/60, and perhaps to 21.90-22.30 thereafter, to fulfill its upside potential.



Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.