Investing Talk Investing Talk    FAQ   Search   Memberlist   Usergroups   Register   Profile   Log in to check your private messages   Log in  Dow Jones is forming a head and shoulders pattern          Investing Talk Forum Index -> Technical Analysis View previous topic :: View next topic   Author Message dj30 Guest Posted: Sun Jul 13, 2008 5:07 pm    Post subject: Dow Jones is forming a head and shoulders pattern Dow Jones Industrial Average long–term chart is forming a head and shoulders pattern. The projected price decline for a head and shoulders pattern is usually found by measuring the distance from the neckline to the top of the head. This distance is then subtracted from the neckline to reach a price target. The calculation gives approximately 9,000 as a rough long-term target. This price target looks very pessimistic now, and it should be considered with other technical indicators as well. Daily and weekly technical indicators are oversold. The neckline (around 11,500) now becomes an important resistance level. The Dow Jones may retest this level before moving down to a 9,000 long-term target. http://www.thegreedytrader.com/QQQQTrendAnalysis.aspx?p=195 Back to top   Ads Advertising Sponsor Display posts from previous: All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First         Investing Talk Forum Index -> Technical Analysis All times are GMT Page 1 of 1   Jump to: Select a forum Investing Talk----------------Investing Talk-- MarketMutual FundsFutures - OptionsTechnical Analysis  You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum 246 Attacks blocked Powered by phpBB © 2001, 2005 phpBB Group