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Strategies & Market Trends : Technical Analysis - Beginners

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To: Chris who wrote (11490)	2/8/2001 11:28:26 PM
From: Trader X	of 12039

chris, love looking at those charts from Security Trader. something I'm going to speculate on, is that if you try and make a case for a H/S reversal being formed in the SPX, and you look at the October drop as the left shoulder, then you could make the case that the current retreat is a repeat that's forming the right shoulder, and should then take the SPX back to about 600 intraday. This is speculative, and if the SPX break 600 then I'd look for new 52 weeks lows eventually. There is room for a bounce off the 50 day MA first, so this may take some time. FYI, A lot of the semi equips have made it back to their Jan 1 levels, already.

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