Zeev's Turnips Patch-No Politics (ZEEV)

[greenehugh]

"The Nasdaq may be heading to the May 15, 2002 swing high at the 1759.33 level. That day had volume of 2.24 billion shares traded. To get through that swing high, volume should come within 3% or less to have a successful break though of that level. So far the Nasdaq has not touched the 5/15/02 level but did come within two points today. It is worth noting that the break above the 6/6 high of 1685 came with a decrease in volume of near 36% and implies a false break to the upside. This condition suggests that the 5/15/02 high of 1760 area could produce a sell signal for the short term. If a sell signal does get triggered, our first downside target would be near the 1685 level. The Nasdaq McClellan Oscillator is showing a positive divergence since it got to near +80 yesterday and the McClellan Summation Index on the Nasdaq has turned back up, which implies the trend is up. This condition suggests one should buy the pullbacks and not sell the rallies. If volume is light on the next pull back, we may buy the next low." " http://www.ord-oracle.com/ord.php "