Cents and Sensibility - Kimberly and Friends' Consortium Message Board

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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: JeanD who wrote (90982)	3/30/2000 9:41:00 PM
From: Bryan	Read Replies (1) of 108040

I'm not as convinced that the pattern is head & shoulders. Check this out and keep this in mind. We are creatures of habit. Therefore, we find that in a lot of instances, history seemingly repeats itself. I find this to be particularly helpful when looking at chart patterns. Stan is famous for his secondary surges, (which plays off of this same thinking), and he might agree with me on this analysis. You must display this chart to understand the following members.aol.com There is a distinct "W" pattern that broke down and sent the NAZ into a tail-spin. But this happened before (see chart), in January....anyone remember? We all thought we were going to burst out of the gate and run straight up....wrong. We formed a "W" and when it appeared that we had broken up through the top of the formation, it really turned out to be a false break and we saw a fairly significant 400 or so point drop. The next series of moves from that bottom at the end of January saw a gain of nearly 1000 points from just under 4000 to the all-time-high!!! So what, you say? IMO, we are creating the same scenario (see chart again). 1. We have created another "W" 2. Failure to break up higher has sent the NAZ down through the bottom of the formation (today's move). ....similar to January 3. If and I stress if we can pull up from this carnage today, and hold above 4350-4400, we very well may see a similar pattern to that of Jan-Feb. ÿÿÿÿ a) A rather quick partial move up. ÿÿÿÿ b) Sideways consolidation near 5000. ÿÿÿÿ c) A break of all-time-high and test of 5500. Trust me when I say I have seen these types of repeating formations. They exist in and work in different markets as well, all based on the premise that we are creatures of habit. Sounds a bit raw? Maybe, but I hope to hell that I am right. All in my very humble opinion of course. Regards, B

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