BA Head & Shoulders Top

On Monday, stevepuri, a member in the forums, accurately predicted a head and shoulders formation  in the works on Boeing (nice call!). Here is an update on the head and shoulders top formation that is forming on Boeing's chart.

Boeing is trading near a critical pivot right now. A breakdown below the neckline is a bearish signal and it will confirm a bearish Head and Shoulders Top on Boeing.

Be careful about market strength if BA breaksdown. The Dow Jones Industrials (the media's favorite index) is heavily weighted on BA. Considering that the overall market is oversold right now, the chances of a breakdown in the next few days is probably slim, but still keep this on your watchlists.