Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

TRINQ appears to be neutral right now. It consolidated and says we could bounce or we could drop like a rock from the open tomorrow.

Most of the charts I looked at tonight support another 2-hours of down early tomorrow AM, so that would be what I'd be on the lookout for at least initially.

If TRINQ opens below 1.0 tomorrow, it should indicate a trend reversal and at least an oversold bounce with possibly 30-COMP points potential. If it does not open below 1.0, I would expect a drop in the COMP to around 1300 during the morning.

A gap down would probably get us a TRINQ above 1.0 at the open and bring additional selling as support on the NDX at 982 (possibly even 977) and COMP 1319 would be breached.