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Yngvi,
Not sure about this pattern. To me it looks a little bit out of sync.
The down-penetration of the 200EMA on Aug. 28 made more impression on me.
And measured by other stats including the by this list much discussed
(4/9day)support level fm Mel Widner(TASAC 0598) this was also an important day.
It's a pitty my broker won't let me trade in the past....
Frans
At 21:32 2-09-98 +0100, you wrote:
>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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