Zeev's Turnips Patch-No Politics (ZEEV)

[SI_Shack]

Thanks. I'm just not getting any of the topping indicators I need to see though. My 10-day EMA of the equity P/C is a long way from sell territory, as is my TICK indicator. We also now have a proliferation of QQQ puts outstanding for September, many have been opened these last couple of weeks. I would also note the extreme amount of cash in the Rydex bear funds. Lots of folks betting on down right here. TA wise I don't see the structures I'd like to see either, especially in non-tech where a new swing high is virtually a lock for me as we make the infamous triple top on the DOW. Meanwhile in tech, the SOX is coiling under that 410 area and if we knock on that level again I doubt it holds.

I agree 100% on the volume though. Quite weak and it will have to pick up for any kind of push to materialize.