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

To: Jorj X Mckie who wrote (13343)	11/17/2002 9:15:08 AM
From: stomper	Respond to of 57110

965 is being considered the neckline by many people on the multi-year pattern. It still seems a little high to me, but I 'spose on a pattern that big you must give some leeway. -dave

To: Jorj X Mckie who wrote (13343)	11/17/2002 11:27:43 AM
From: ajtj99	Respond to of 57110

The neckline for the multi-year H&S on the SPX is around 965 or so. We've already touched it once in August. I don't recall any H&S Patterns that have had their neckline touched twice, although I have not been tracking them too long. If the COMP hits 1484, the NDX should hit 1130. The SPX often times will move 1/2 the percentage move of the tech indices. If the techs move up 6.6% from here, that would put the SPX at around 940 a 3.3% move up, which I believe is near a pivot high at 950 on the SPX. That's what I'd be looking for on the SPX, 940-950.