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Technology Stocks : LSI Corporation
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To: shane forbes who wrote (15515)10/8/1998 10:12:00 AM
From: E. Graphs  Read Replies (1) of 25814
 
Shane,

Not wanting to mislead anyone, it's possible we've already formed right shoulders on both INDU (Dow) and COMPX (Naz), but they are not very substantial and tend to blend in, however, they are easier to see on this chart.

In addition, I can see that the neckline on Nasdaq's chart was broken slightly intraday yesterday.....not so good.....but I always put my faith in closing numbers.

quote.com

(set the time for W (weekly); INDU =Dow COMPX =Naz)

At the moment we are going lower. I have a target noted at ~1385 if we break through 1425 decisively. Plus, a little information can be more dangerous than none at all, so I'll add just one more thing about this H&S stuff, then I'll quit because it's too much TA for this thread.
Once the neckline gets violated and we move to our target [say ~1385 in this case] there is typically a pullback up to the neckline before freefall. That's usually my exit out of any burning theatre I find myself trapped in.

Good Luck,

E

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