Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

LG, I just read a post where Don Sew studied bear flags going back on the COMP and NDX:

Donald went back to 1991 and examined 11 occurrences of Bearish Wedges/Flags and the duration of each. Before these broke down, Don noted that they lasted 18-23 days, except for one which lasted 26 days and another which lasted 28 days.
(One of the examples was from the early 1930's)

Currently the S&P, and the DOW have Bearish Wedges which are 18 days old.

That might give more weight to a 50% re-trace if we are getting another leg up (which I expect).

Some of the things I'm looking at appear to be falling into place for a top or a re-test of a top going into Sept. expiration and a drop into October, with a widely expected turn date at Nov. 7 as a nice place for a re-test of the new lows I expect.

Max Pain for Sept. is 24 on the QQQ right now.