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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Shack who wrote (68928)	3/18/2003 5:47:09 PM
From: 4rthofjuly007	Read Replies (2) \| Respond to of 209892

Re-re-visiting the inverse dow H&S> stockcharts.com[h,a]daclyiay[dd][pb20!b50!f][vc60][iUp14,3,3!Lb14]&pref=G Almost gave up on this one but it seems to still be hanging in there. The volume shows a continued decline into the right shoulder and then a really nice surge with the decent sized shadow to boot. Of course, the last time I thought I saw the shoulder forming in early-mid Feb, it promptly got taken out<g-ng>. This set on volume bars looks much better, though. The tough thing about this pattern is that the neckline is up around 9,000 and the formation measures to well over 10,000. I suppose that if we ever get to 9,000 and take it out on good volume, the case could be made for 10,000+. Besides the seeming absurdity of this type of a move, does anyone have any comments on the structure of the pattern?

To: Shack who wrote (68928)	3/18/2003 10:18:16 PM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

Yes, that is the clear-as-day alternate for me in non-tech. I don't need to tell you, but everybody who would call herself a technician needs to know when to flip to that scenario; what would trigger it as the favoured. The other thing one does, is know the intersection between one's favoured and one's alternate. Even if I am wrong about this being an impulsive 'big C', the intersection of that scenario and the alternate (which you posted the chart for), is that this leg will not end this up. This is reason for me to hold for higher prices yet.