Zeev's Turnips Patch-No Politics (ZEEV)

[wahz]

Not that anyone does or should care but i have to adjust my support area to 1313.5, from 1320. We can get to 1313.5 and the most bullish scenario stays intact, ie, that the bottom is in and we are going to go tag the 200 day ma. This would be classic bull market action.

A break of 1313.5 is much less bullish because it would almost always cause a fall to 1278, but it is not disastrous, as long as 1278 holds. 1278 can even break, but only for hours and a buy spike would have to force it to rocket up.

The more I look at everything this weekend the more I think that the upper number should hold, ie 1313.5. We aren't overbought on a weekly basis, and a drop to around there will give us plenty of ammo on the dailies too. It will solve a lot of max pain issues, and it will also hurt the bears when it turns and races up in defiance.

Just my wag, and I am looking for entry to cover shorts and go long for a ride to the 200 day.I am also looking for stops, and I think an impressive break of 1278 looks like a good run for the hills area.