Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

I think you brought up the chart of Infospace, not INTC. But in any event, the MACD in INTC has just turned while the stock broke to a new high, it has to peak (and wait for a negative cross over, theoretically) before it comes back down, that to me says that INTC can reach the $33 area here on the next move before it even turn to retest the bottom of the box just under $30. Also in INTC, the RSI has not yet reached again above 70% (and on the last ramp, it got to 75% before consolidating), which to me says that it has more to go. The same with the major indices I follow. Wait at least until the RSI goes above 70% and in a strong bull move even higher, before consolidation takes place. My best bet is a continuation here, taking 1940 and going above 2000, and then maybe consolidation into year end, but not a major break down of any kind. Of course, if real divergences and major extremes appear before that, that will be another story.