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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	6/8/2001 9:48:44 PM
From: Softechie	Read Replies (1) of 37746

From TC2000: Head & Shoulders The head and shoulders tops continue to build in an orderly manner as the market jumps up and down helter-skelter day-to-day. It is easiest to see in the SP-500. Use TSV as a surrogate for volume (which is actually a good part of it anyway) and you see the pattern of declining peaks in TSV from the left shoulder to the head and from the head to the right shoulder. As I said a day or two ago, I personally do not interpret this as an indication that the bear market hasn't ended, but rather as an indication that a full correction of the advance from early spring to the May high may take place. For the Nasdaq, this would be a pullback under 2000. The S&P 500 would probably penetrate 1200 and the Dow would probably drop below 10,750 and possibly under 10,000. -DW

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