Zeev's Turnips Patch-No Politics (ZEEV)

[Justa Werkenstiff]

Z: Re: "Have you looked at the Dow 5 days RSI? 14.3, even the five weeks moving average is at an extreme oversold of 25. The Dow is making a triple bottom here, and the Naz is not even testing the August lows of 1750, it even did not manage to take out the 10/14-15 low at 1900. The $ndx is even stronger."

One possibility is to consider the following. The last time the Nasdaq 100 made a 30-day new high while the DJIA was making a 30-day new low was March 7, 2000. Yes, the Dow was cratering back at the Nasdaq bubble top. And then the Dow rallied into an April top while the Nasdaq cratered into its April bottom.