Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

questor...

It looks like we fell out of the bear flag today and the chart is now a simple "ABC" move. The "A" down trend and "B" corrective bear flag are complete and we started "C" this afternoon. I look for "C" to equal "A", which means that the 1347-1350 support area will probably not hold, at least not for long. I look for a downside target of around 1260 off of this unless we get some determined intervention.

Gold and the $USD seem to confirm this view nicely, as does the most recent bull/bear ratios of 53/18. Fundamentals also support a downdraft here, and probably more to come after that.

Just my opinion, though.

mlsoft