[MacStir]

Hello and happy new year. I have two questions about TA

I noticed the S&P is about to go into what looks like a triple bottom. John Murphy (who wrote the book on TA) says these are very rare, while other traders say they do not exist (the idea being that they break on the third attempt). Anyone have a view?

I also see that the S&P (weekly chart) is in a long term 10 year (1999-2008) inverse head and shoulders. Again anyone have a view? Does this mean a reversal?

The two shoulders (10/22/99) & (8/17/07) show support at 1380 or so. This line attempted to hold in late 2000, became resistance through the bear phase and after breaking through was recently retested 3/16/07 & 8/17/07.

Thanx!