Does this look like a Head and Shoulders forming to anyone else? and does this mean the downtrend is in reversal.. does this imply up from here??

Interested to hear other views.. To me, following the breakout, and going north of 500, this is yet another confirmation of a reversal.
All bullish signals.
EDIT: I'm not expecting rally speed up.. but a nice drift gradually upwards would be nice for now.. interspersed with a few legs up here and there as more take the plunge or get fiat to exchanges.

Interested to hear other views.. To me, following the breakout, and going north of 500, this is yet another confirmation of a reversal.
All bullish signals.
EDIT: I'm not expecting rally speed up.. but a nice drift gradually upwards would be nice for now.. interspersed with a few legs up here and there as more take the plunge or get fiat to exchanges.
Don't really understand what you are trying to say. head and shoulders patterns are bearish.
No they're not, they're either. A sign of reversal as it were.
http://en.wikipedia.org/wiki/Head_and_shoulders_%28chart_pattern%29
"Head and shoulders formation occurs when a market trend is in the process of reversal either from a bullish or bearish trend"
It is called an inverse head and shoulders. And it is not what is shown.