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Strategies & Market Trends : Chart Formations
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To: David Alan Cook who wrote (7)9/28/1997 3:42:00 PM
From: sean sanders   of 967
 
DC,

Nice observation. As you are aware of sometimes a chart formation wont show up in a field of just a month or two; sometimes we may have to look at more data to get the bigger picture.

Chris, thank you also for supplying a chart for us to visualize the formation.

I'd like to quote Thomas Bulkowski; who recently wrote an article in TASC's august's 1997 issue on head and shoulders formations.

"The formation is interesting in that it tells you the minimum price move to be expected after a breakout. Since the prediction is a minimum, expect declines or rises that far exceed the minimum. The stocks in my database had downside moves from head-and-shoulder tops of %32 and rises from head-and-shoulder bottoms of %94. These moves are substantial enough that even long-term investors should pay heed to the head-and-shoulder reversal formation."

Sean Sanders
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