Zeev's Turnips Patch-No Politics (ZEEV)

[LG]

Zeev: I might even veture a little into the mine field of the semis

For your style of day trading maybe, but anything else would be premature...IMO

The weekly chart still reveals the weekly bars are being guided down by the 200-Week SMA. The daily chart shows a triple test of the 200-day SMA for resistance after the price action moved decidedly back below. And, the recent test of the April low has already produced an intraday bounce.

Since my SOX models are mixed, an extension of the bounce is not out of the realm, but the operative word is bounce.

IMO, the overall market decline is not complete. However, with my RUT and COMPX intraday models oversold and my NYA intraday models slightly mixed with a bias to oversold, a bounce to liven up the bulls is close or at least an interesting sideways.

I have a Fib Time Extension inflection point date for the SPX due 7/14 (+/- one trading day), framed by Oct 02 Fib Cycle dates on the 13th and 15th.

Regards,
LG