spx 03-07october, page-18

thanks to Steeden for this link:

http://www.businessinsider.com/the-market-breaks-its-neck-2011-10

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there's an old target guideline that says the h&s should complete 100% x 2 of itself in the inside direction: that's 100% of the head tip through the center to the neckline (whether slanted or horizontal)x 2 and applies to orthodox and inverted h&s sets.....that's fine while we look at this years two sets of h&s per the link, yet, when i applied the same look to the quarterly (mar00 left, oct07 head, apr11 right)the final destination is, erm, well.......we'll see when we get wherever we get to!

a case could be made that multiple h&s (lowering degrees of trend like a russian-doll set) would add momentum or make increase the probabilities of continuation in the initial direction until that minimum measures of 100% x 2 is finally accomplished........

h&s are notorious for being illusions and i dont recall ever reading a traders bio that said they made income from h&s patterns........

stuff to think on