MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 17 4:00 PM EST

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To: HairBall who wrote (28925)	10/9/1999 6:14:00 PM
From: Casaubon	Read Replies (1) of 99985

LG, Could I impose on you to draw the neckline (or comment on its placement)? Also, when you draw a neckline on a head and shoulders pattern, do you start that trendline from the left most part of the left shoulder, or the right most part of the left shoulder? As I interpret your chart, it seems a small bearish triangle developed which was broken to the downside, however, the neckline (not shown) has yet to fail. The neckline would correspond to ascending support just above the horizontal support line you drew. Can you make any comments about how to determine whether a neckline will fail as a support line or hold.

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