Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: sean sanders who wrote (4781)	1/27/1999 11:35:00 PM
From: HairBall	Respond to of 99985

sean sanders: Thanks for your contribution. That H&S pattern you point out in your chart, has not gone unnoticed on this thread. It has been discussed earlier. Also, the H&S pattern to its left that proceeded it. That H&S pattern needs to drop down to say approximately the 200 day SMA area to complete. At least that is what I expected, after the bearish flag helped resolve the second shoulder. Of course, a lot of support found in the 50 day SMA area. However, H&S patterns are the least reliable of the patterns I recognize! Heck, I kind of expect a third one to form to the right of the one you point out, but a little lower on the price scale, say mirrored over from the one of the left...<g> BWDIK Regards, LG

To: sean sanders who wrote (4781)	1/28/1999 3:04:00 AM
From: Bull RidaH	Respond to of 99985

Sean, Thanks for highlighting the Dow H&S in place from this year's trading activity. Fresh calculations on a pattern projection lower give 2 numbers for the Dow March futures contract .... 8340 & 7775. Since the right neckline is lower, this pattern is the stronger version of the typical H&S pattern, and we should ultimately end up at 7775. But 8340 will prove to be a likely area for a significant 200+ point bounce before we see the final low for this move. Obviously, we need to take out 9080 (the recent low) to set this pattern in motion. With the Dow futures at 9175 as I write, we're not that far away! Regards, David