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Strategies & Market Trends : Moufassa's Lair -- Ignore unavailable to you. Want to Upgrade?

To: ALTERN8 who wrote (10604)11/20/2002 10:04:01 AM
From: moufassa7  Read Replies (2) | Respond to of 13660
 
A H&S formation is a period of time when shares are sold, shorted or distributed to weak hands. When finished the buyers are left holding the bag, when they realize that their is no upside follow through their selling brings the market back down. BTW, a move above this week's high @ 916 would invalidate the formation and indicate the buyers are in control. IMO.



To: ALTERN8 who wrote (10604)11/20/2002 12:22:13 PM
From: moufassa7  Respond to of 13660
 
SPX @ 909. Just 7 points from weekly high. A move to a new weekly high puts buyers in control. A failure keeps potential H&S in play. IMO.


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