Zeev's Turnips Patch-No Politics (ZEEV)

[LG]

balmywinds: All good observations, as the 1380 area of the Naz Comp is the lower boundary of the 7/3-5 gap-up and the 61.8% retrace level of the 7/3 rally. My OMC Index move up nicely after the pivot low today into the close, but my CompTRIN still remains low. (Keeping in mind no technique is 100% percent.)

However, after hours trading produced some fairly bullish price action in select equities and in both the SP and NQ futures. I think it best to wait and see how the futures play out over night before formulating the next intraday expectation.

Frankly, I was expecting an intraday pivot low (change in trend) yesterday or at the latest today, that would be followed by a counter trend rally. I would not be surprise if the SPX were knocking on 1000 tomorrow. We shall see...