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Strategies & Market Trends : Effective Trading In Our Markets. Learn, then Earn
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To: Jerry Olson who wrote (857)6/24/2002 2:29:51 PM
From: Gersh Avery  Read Replies (1) of 1854
 
Hi OJ ..

I took a look at the SPX monthly chart today ..

noticed a very nasty H&S pattern.

It still needs to break the neckline to generate the target .. buuuttttt ....

if the neck breaks the target would be 336.39 on the SPX cash.

yep .. more than 600 points lower.

Now then .. you know I don't do these kind of calls very often. (come to think of it, I've never called a 600 point SPX move) But you might be able to remember one or 2 times that I called a 100 or more point SPX move.

For this one to take place requires the Sept lows to be taken out .. 944.75. If that's taken out, then the target of 336 is in play.

The way that H&S patterns work, it might have us move up for a while before the main move down.
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