Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

Rich, is he saying he believes that high will precede a big drop? That seems to be how things are shaping up here. The NDX really does not want to do the full re-test today, so maybe we'll have to come back in a few days. The COMP is almost there, however.

I think we need to see the NDX at around 959 before I believe we can legitimately bounce for a re-trace of the drop. That may coincide with COMP 1320 or so.

The SPX and Dow are really oversold here, so I don't know if this can go much longer than 3:20 before we bounce on some short covering. Ideally, it should happen by 2:30PM or so.