Zeev's Turnips Patch-No Politics (ZEEV)

[deuce bigalow]

There comes a time when it becomes clear that we're in a mark-down phase<<<<

Hi Lee,

on an LT (200dma) we are definitely not in a mark down phase, on an IT basis (50dma), we may be in the beginning of a mark down phase based on the leadership group - techs,

the nasdaq usually non-confirms tops and bottoms (or retests) in the Industrials.


We have some sentiment elements that could comprise a top, in my aforementioned post, however these kind of sentiment readings most of the time comprise the initial top and usually there is a retest or a resumption of the previous trend.

contrary opinion only works when the crowd is wrong, and the crowd can be right for extended periods.

An uptick in earnings warnings during this period would send the market down, there is a lot of overhead supply, based on mutual fund inflows.

sentiment may be changing trend which has been uptrending since early fall.



the financials are really overbought, it just doesn't get much better than this.