Dow

not sure why the chart came out like that ..but here the link.

dl.dropbox.com/u/40497882/DOW_HNS.jpg

Daily view and illustrative of what Remo is anticipating wrt H&S. notice the convergence of the fibs and trend-line from 2009 lows all in a range between ~12000-12450.... expecting a decent bounce around the 21/22 Nov?

it can go higher than the left shoulder or lower .
other than that yep

thats only for the bigger head and shoulder...
remember currently theres a small one thats already active.

remo

SO essentially we need a down move (possibly now?) to get to the neck then the rally to form the shoulder and then the turn down to finish off. Am I right in the belief that the top of the shoudler should be roughyl equal and so the top of the right shoudler could be measured by the resiatnce formed at the top of the left shoulder?

Hi Ruudboys

Remember it's just an assumption currently. There is still the target of the small head and shoulders to think about.

Head and shoulders patterns are hard to predict due to the way it's constructed. Left shoulder then the head( higher high)
Then the right shoulder( lower high).. In a bull market higher highs are common so you will get the left shoulder and the head a lot.

Remo

I'm looking for a first resistance at 12715. The Elliott's folk reckon this will be a short sharp jobbie before continuing the slide