Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

Larry, if we get a low today, there's an imperfect 3-black crow formation in play with a target of 1300 COMP. There's also a bear flag target from this AM around 1315. In addition, a drop to the 1300 COMP level would put us just below the SPX support at 862 (50% re-trace), so that's a touchy situation. The 840 support below may be in play.

I think the drop we had today is not sufficient for a low risk buy. Max Pain on the QQQ is 25-26, so they could take us down to 23 to 23.50 before reversing back up.

Finally, the support level on the COMP in play below 1315 is 1282.