We've been talking about a few Head and Shoulders patterns showing up on some of the sector indices and this week the Internet Sector broke the neckline. The target is just over 200 on the index and since it took about 17 months to form the pattern it may take that long to hit the target, but given the volatility of this market it could hit it lot sooner.
Internet Sector Index Weekly Chart:
Wednesday, October 1, 2008
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