AI
Sunday, September 21, 2003 9:27:33 PM
COMP Inverse H&S Update (chart)
Regardless of the precise location one assigns to the neckline, it appears that this inverse H&S has definitely broken out. Indeed, it appears to have made a successful retest of the neckline. (See green annotation.)
My ballpark projections using various methods of estimation are included on the chart. According to my calculations, (which are extremely imprecise), this rally should go at least as high as 2045, and could go to 2392 or beyond before the next bear move starts.
Regardless of the precise location one assigns to the neckline, it appears that this inverse H&S has definitely broken out. Indeed, it appears to have made a successful retest of the neckline. (See green annotation.)
My ballpark projections using various methods of estimation are included on the chart. According to my calculations, (which are extremely imprecise), this rally should go at least as high as 2045, and could go to 2392 or beyond before the next bear move starts.
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