[CANSLIM] Re. Head & Shoulders

From: Spencer48@aol.com
Subject: [CANSLIM] Re. Head & Shoulders
Date: Wed, 29 Jan 2003 21:18:59 EST

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Canslimmers:

     Just an observation.  To me, the Daily NASDAQ looks like an H&S, with 
the left shoulder on 11/8 at 1420; the head on 12/2 at 1521; and the right 
shoulder on 1/13/03 at 1467.  The neckline is at 1320 (It closed today at 
1358, +15 on a bit more than ADV).

     The Measurement Down from the neckline is, I believe (and if I'm in 
error, I hope Tom or someone corrects me) is from the neckline to the head, 
which is about 200 points.  So if it penetrates the neckline, it should fall 
(according to chart-measurement analysis) about 200 points-or to about the 
October low (which was 1108).

jans

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