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To: AllansAlias who wrote (1636)8/13/2008 12:36:26 PM
From: jjstingray  Respond to of 3209
 
Based on that chart and many others, I am sensing our down scenario is still in tact.



To: AllansAlias who wrote (1636)8/13/2008 12:36:48 PM
From: morokko65  Respond to of 3209
 
HUI looks like a similar H&S, with a neckline at $400+-, maybe this ST rally does a backtest of that 400 area (where the trap door really opened up...) and then we get more down to some of those Fib extentions you mentioned:

stockcharts.com



To: AllansAlias who wrote (1636)8/13/2008 4:04:21 PM
From: skinowski  Read Replies (1) | Respond to of 3209
 
That's a nice clean chart. Among other things, it offers a good illustration as to why new recovery highs from this point on *may* be potentially quite damaging to the bearish case - unless they reverse down quickly.

When Head and Shoulders patterns fail, they tend to offer great entries as continuation patterns -- for obvious reasons, since in those cases the right side of the "head" and the right shoulder turn out to be ABC consolidations.


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