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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: RWS who wrote (24368)	12/18/1998 1:56:00 AM
From: Doug R	Respond to of 79230

RWS, If DD falls to 10 (before 2008), I'll eat my monitor. But that is the textbook downside projection of a breakdown of that H&S. It is also the textbook case that the more often a support area is survived, the stronger it becomes. It is also true that the stronger the support line is, a break below it normally results in an equally strong downward move. It is also true that when a head and shoulders pattern is successfully broken above, the resulting upward move is very strong. In DD's case, there are also longer term areas of support than the 14 month H&S that would most likely come into play if that neck line is not maintained. It will be very interesting to watch considering DD is a Dow stock. Doug R