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Technology Stocks : Intel Corporation (INTC)
INTC 35.53-1.1%Nov 14 9:30 AM EST
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To: Tony B who wrote (49130)3/2/1998 1:13:00 PM
From: Chip Anderson  Read Replies (1) of 186894
 
H&S patterns are usually confirmed by a similar pattern in the volume. Remember that real H&S patterns are associated with exhaustion selling and the departure of the "weak" money. Usually, you'll see large volume spikes at each of the peaks with the volume at (or immediately after) the head being the largest and the spikes for each of the shoulders being roughly equivalent. Less commonly, you may see a volume pattern where the left shoulder spike is tallest, followed by the head's spike, and finally the right shoulder spike. INTC's recent volume is not showing either of these patterns.

H&S patterns are by far the most commonly mis-identified pattern. Be sure to look for confirming volume before calling it.

Chip
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