Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

NDX daily chart has turned up on the indicators, but once again the index failed to surpass the 200SMA:

http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f...

Zeev mentioned today the summer 2001 range based market, and this downchannel bears a strong correlation.

The 1155 Dec. 2002 NDX top corresponds to the COMP 2328 top in May 2001, the 1104 Jan 2003 NDX top corresponds to the COMP 2264 top in June 2001, and whatever top we get next (NDX 1040?) may correspond to the July 2001 2181 top.

That was followed by the August 2, 2001 2102 top, then 6-weeks and a 33% COMP haircut into the 1387 Sept. 2001 lows.

http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[h,a]daclyyay[d20010228,20011028][pb20!b50!b200...

It's interesting to note that while most of the T/A measurements of the COMP distributional top in 2001 measured to the 1619 lows, they were exceeded. The complex H&S and triangle measured both to about 1619.