Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: feewaybill who wrote (4177)	6/12/1999 11:18:00 AM
From: Charles Kalb	Read Replies (2) of 39683

Bruce, Thomas & John..........on SPLS SHORT, does anyone read a rough head-and-shoulders pattern threatening to break neckline? Make allowance for SPLS' volatility in looking for this. I read the peaks as left shoulder on 1/4, head on 4/12, and right shoulder on 6/7, with neckline about 27. Friday's LOW was 26.875. The 200 MA is at 26.30. If Monday breaks both neckline and 200 MA, this could continue to be a good short, no? A short-term downtrend channel is in place back to around 4/1. Support at the lower band of that channel does not come into play until around 23. Comments? Charles

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