Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (13332)	11/16/2002 10:25:27 PM
From: ajtj99	Read Replies (1) \| Respond to of 57110

Let me ask you, Jorj. How many times do you want to go up and touch that neckline on the SPX? Twice? Three times? You know we already did it once. I don't recall too many H&S patterns that go up to the neckline twice. Correct me if I'm wrong here, as I've only been following H&S patterns for less than a couple of years.

To: Jorj X Mckie who wrote (13332)	11/16/2002 11:06:18 PM
From: lurqer	Read Replies (1) \| Respond to of 57110

Well, I usually just lurk, but since you posted me, I'll play devil's advocate. Your first chart seems based on the premise that the current situation is like the May-June '01 period. Why pick that period over any of a bunch of other local maxima in the big down channel from '00? The maxima at Sept '00, Feb '01, Jan '02 and Mar '02 didn't reach RSI 70 on your chart or the red MACD line you exhibited. So why pick that May-June period? As far as the comparison with the '31 chart - maybe. But I'm sure one can find plenty of historical charts with short term double bottoms that don't lead to a second mini-spike tops. All that said though, I believe there is a case to be made that although the secular bear is not over, we made need to shake off some more shorts before a large descent can begin. All JMO. lurqer