Can light Nambu-Goldstone boson loops counter the open-quote open-quote S argument close-quote close-quote against technicolor?

We examine the oblique correction phenomenology of one-family technicolor with light pseudo Goldstone bosons. From loop calculations based on a gauged chiral Lagrangian for technicolor we are led to conclude that even though loops with light Goldstone bosons give a negative contribution to S measured at the Z pole, this effect is not sufficiently large to unambiguously counter the open-quote open-quote S argument close-quote close-quote against one-family technicolor. This result cannot be guessed a priori, but must be explicitly calculated. Our analysis entails an extended version of the STU oblique parametrization of Peskin and Takeuchi. In principle, this extended formalism (STUVWX) must be used when there are light new particles in loops. copyright 1996 The American Physical Society