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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (127486)	12/27/2005 5:20:37 PM
From: Henry J Costanzo	Read Replies (2) of 209892

WMT........One other angle I did not mention, but worth watching. We're dealing here with the stock in the nether portion of stock action over a 6 year period.....fertile ground IMHO for the birth and development of H&S bottoms....... And, indeed......even with some questions possible re volume pattern......believe the daily chart can be placed on what I have referred to in other situations as H&S "Alert" status. H&Ss tend to be symmetrical.........but do not have to be....Assuming symmetry in this case, this could take us into Feb for a RS bottom (and a straightening out of the 200d SMA)....And the sine qua non....the breakout.... might come along late Mar-early Apr...(ALL, of course, subject to pushes and pulls from general market activity in that period..) Have put it all in a pretty pic, for your edification, Shack-o.......et voila!! ...and off now to first game IHS invitational hockey tournament....(That's Ithaca High School......NOT Inverted Head and Shoulders...LOL) home.twcny.rr.com

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