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Jerry,
I can see the shape of a h&s on the weekly chart, but volume pattern of
increased volume on the head is not present. Are you viewing the
formation from 7/3 to 10/31 (weekly) as the head? According to Edwards
and McGee, the move has to form with high volume on the left shoulder,
(which is present) then high volume on the head (which is not present)
and declining volume on the right shoulder. I see that beginning 7/3
the volume declined appreciably. July 14 was also the date of the
split, I believe.
Al Taglavore
Greatelto wrote:
>
> You pattern watchers....look at INTC. That could well be a major H&S forming
> with the neckline around 70. If so, the count looks like 38-40 (hard to
> believe), which is the base the stock moved out of for its recent move.
>
> I just can't believe my eyes....does anyone else see it?
>
> Jerry
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