Readers raise the question, do the last two days invalidate the head and shoulders? Not at all. The trendline from the top in June is intact, the pattern of lower highs and lower lows is intact and a few more days work on the right shoulder would add to symmetry.
In addition, remember that the Composite Operator likes to shake insecure traders out of the trend before making a real move. Sometimes it’s called the Specialist Trap, because Specialists like to play the trick. If price takes out the high on July 1 then we’ll be concerned.
And, we have never considered that the neckline was definitively penetrated. We’ll know when that happens.