Zeev's Turnips Patch-No Politics (ZEEV)

[jdaasoc]

What better sucker tool than to poke thru the 200 DMA, then pull the rug on J6P once again.

For the S&P it is 1007. Assuming 20-40 days from now if market slowing inches up new S&P 200 MA data points between 900-950 will replace S&P data points above 1000+ falling off, 200 MA would still be calculated above 970. That is still 10% higher from here.

Also, we have our 8/23 intraday high of 965 that if it gets taken out, bulls would toot higher highs higher lows horn.

All and all it looks like bullish money will be thrown into market from bond holdings rebalancing to allow market to hit your 200 MA ceiling somewhere above 970 intraday.

I would serious consider that a good stepping out point after the run from 768.


PS 30 yr bond making run above 5.1% again.