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Yngvi,
I'm almost sure Guy pointed the possibility of a head and
shoulder formation. How about it Guy? If not, I'm sure I read
a post alluding to one in the last five days. As Edwards and
Magee say in Technical Analysis of Stocks Trends (as I've
suggested before: The Old Testament): "...by all odds, the most
reliable of major reversal patterns".
Steve Karnish
CCT
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> From: Yngvi Hardarson <hardy@xxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: Head and shoulders on SP500...
> Date: Wednesday, September 02, 1998 1:32 PM
>
> I have not seen anybody on the list referring to a head and
shoulders
> pattern having appeared on the S&P 500 index.
>
> Neckline drawn from the low of April 27 to the low of August
11 and
> penetration on August 28.
>
> Potential objectives: Whole multiples of distance between
1190.58 July 20
> High from neckline same day at 1059.21 subtracted from
penetration price of
> August 11 at 1050.89 or: 920, 788, 657...
>
> Comments anybody?
>
> Yngvi
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