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>For those who like patterns, could this be a right shoulder forming with
>a projection down to about 1900 on the NASDAQ. If the trend line from
>the Feb. low is broken the projection isn't so far fetched. Have a
>good week end. Ira.
As sometimes is the case, we have a similar, possible, pattern in the oposite direction.
Hence, a possible, inverted H&S (a very nice harmonic pattern by the way...)with a min potential of a new high is forming.
An ideal situation for the bears, would be a failure of that inverted pattern (break of neckline and then return below the same line) with the subsequent swift move in the oposite direction.
Be alert.
stig
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