Head And Shoulder Top Patterns In The Dow And Nasdaq?

It appears both the Dow and Nasdaq are potentially developing Head and Shoulder Top patterns in the near term. If the Dow is unable to rise above the 13700 level in the coming days then I expect it will eventually retest the intra day low made on 8/3 near 13150 which is now acting as the Neckline. Meanwhile if the Dow were to break below its Neckline then the next support level would be at its 200 Day EMA (green line) near 12850.
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[Source: The Money Blogs]