hiker -- thanks for the chart and for weighing in. AJ would tell you that you can't draw that line back to the left, though <g> "Back and to the left! Back...and to the left."
How about a left shoulder three times longer in time than the right (or longer than the head and right shoulder combined)? Can you find any examples on charts where that pattern worked?
How about volume increasing rather than decreasing across the life of the pattern?
Those are the reasons for the "controversy" at least from this fellow.
The controversy here is the same as on the OEX. H&S is a topping formation and trend must rise up into the pattern, which means the 1275.8 high must be preceded by a trend rising up from below the neckline or you have no left shoulder, just like this:
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