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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Casaubon who wrote (54985)	6/22/2000 2:08:00 PM
From: Paul Shread	Respond to of 99985

No, left is correct. In other words, we may have formed only the first shoulder in a reverse head-and-shoulders bottom. In other words, the plunge to the head, or a lower low than 3042, could still be ahead. A right shoulder would then have to form to complete the pattern. For example, we could have two shoulders on each side extending from 3,000 to 4,000, and a head in the middle extending from 2,500 (let's say) to 4,000. Doesn't mean it will happen, that's just one place that a rising wedge appears.