Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

Quite a number of issues, the volume , while we are printing new recovery highs on the naz, does not. the new highs are declining, the new highs on the NYSE are pathetic, most of the BP indices are in danger territory from which major declines have occurred in this bear market, the equity P/C ratio closed at a dangerous .48. The sox percentage above the 10, 21 and 50 DMA does not have much room to go higher (the same situations that called fro a major drop on May 15th this year) , similar situation with the NDX, and the list goes on. It does not negate the cyclical bull move, yet, but a major retrenchment is, IMTO, imminent. If such a retrenchment occurs, it is actually good for the cyclical bull case. If we stay here much longer, Oy vey...

Zeev