Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

Well, I am going to have to allow for a corrolary to my "Happy Family Theory of Markets":

"At major lows, the NDX is allowed to diverge and not make a lower low as long as the COMP does."

That's what happened in March 2003 also.

I will note that since the SOX took out the March lows on April 29, that red flag foretold another drop in the COMP of 90 points from that day's lows as well as 350 points on the Dow. Such is the power of HFTOM!

You have to admit, it's nice when everything lines up one right after the other like that. The SOX started everything in motion April 29.

By the way, HFTOM also applies to downtrend lines, so by anticipating 2044 on the COMP, you're also anticipating a breach of 10,400 on the Dow and 499 on the SOX, which is a formidable barrier (with the weekly 200SMA at that level).