Adjusting the shocks adjusts the shock dampening spring preload and will not make a significant difference in the height of the bike. You can purchase lowering kits that replace your stock shocks with a shorter version. The drawback of using the lowering kit is you loose overall suspension travel.
If you turn the adjuster plate out ( towards the lock nut) that will increase spring preload so you get a stiffer ride. So to soften the ride run the plate in away from the lock nut. And they do have a rubber bumper to soften a bottom out type of hit.
---------Place a hydraulic motorcycle jack stand under the frame rails of the motorcycle.Lift the motorcycle off the ground by pumping the jack stand with the jack handle. Raise the jack until the rear wheel of the motorcycle has cleared the ground.Make a reference mark with a dab of paint on the shock adjuster plate of both rear shock absorbers.Loosen, but do not remove, the jam nut on each shock absorber in a counter clockwise direction with an adjustable wrench.Using a shock-absorber-adjustment spanner wrench, turn the shock adjuster plates an equal number of turns and in the same direction on both shock absorbers. Always turn the adjuster plates at least one full revolution. Use the reference marks to accomplish this.Turn the shock adjuster plates outward towards the jam nut (counter clockwise) to raise spring pre-load for heavier loads.Turn the shock adjuster plates inward away from the jam nut (clockwise) to lower the spring pre-load and smooth out the ride for lighter loads.Make sure you turn the shock adjuster plates an equal number of turns for each shock.Tighten the jam nut on each shock absorber in a clockwise direction with an adjustable wrench.Lower the motorcycle to the ground and remove the hydraulic jack stand from underneath the motorcycle.
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The shock absorber adjustment spanner wrench is available from your Harley Davidson dealer.
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There is complete procedure guide, showing how to do this, click the link below:---