Zeev's Turnips Patch-No Politics (ZEEV)

[bsi]

P/C ratio/VXN

Looks to me like more work on the downside re Naz. P/C ratio closed at .71 which was 23% below its 10 DMA and the VXN was about flat with its 10 DMA. So not much fear here.

Naz broke the 20 DEMA. The 50 DEMA sits around 1895. The top of the LT descending channel for the Naz is 1900. If the Naz falls below that, it opens it up for a retest of the August low. A fib retracement of the move off the August low to the recent high is at 1835. There are a variety of places to look for support if enough fear develops.