Discussion in 'Trading' started by m_c_a98, Feb 1, 2003.
Yes, and classical analysis says that The "MINIMUM" expected move
( should the pattern succeed ) would be a Target Point -
BEYOND THE BOTTOM OF THE SCREEN.
.( the distance from the Head to the Neckline ).
Hope for the best - Prepare for the worst.
personally, i find it a real stretch to consider it a H&S...
who knows. I was just playing around with the chart and the possibilities.
How so....? cause that sucker looks text book to me.
The S&P has gone on to make a new relative low three times now after making cycle highs around the Dec / Jan .
We should see it at the bottom of the Channal in about April. I think it could be in the 600s by then.
Maybe we should ask Mr Market.
My only interest as a daytrader is that as the index gets lower, the daily intraday point movements are likely to shrink.
So I guess the idea is to gather the hay while ye may.
And if the intraday moves never shrink to much, all the better.
Here is the chart again as of Feb 11, 2003.
480 before all is said and done..look at ALL the parabolic moves you want to..they end where they start..SP no different...
This BEAR will end with mouth's agape at the carnage...
And that's my take..No one is prepped for it.
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