Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

TRINQ 60-minute is suggesting an open tomorrow below 0.50 will be needed to continue the rally. Above that level and we re-trace it or (more likely) continue the downtrend:

http://stockcharts.com/def/servlet/SC.web?c=$TRINQ,uu[h,a]ea...

Also, the NDX daily here looks disturbing still:

http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[h,a]dhca...

The above NDX daily chart shows the downtrend is still intact as of today's close, and there is room for lower prices. We could go as low as NDX 950 tomorrow in this downtrend. We'd have to bust some lower BB's and support, but it is possible.

The RSI is in a falling wedge that held the upper trendline today. The Full Stochs can go lower and have not turned up to confirm a trend reversal.

In short, a TRINQ over 0.50 tomorrow and I'll be getting short again.