Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

OJ, I have noticed that trendlines work on the BP charts. The BPCOMP daily chart has a trendline intersecting the 44 area right now. If we touch that, odds favor we turn back down.
If we burst through it, you can dance your bull dance.

I agree the BPNYA and BPSPX are not yet overbought. I looked at them yesterday and could not find a sufficient reason for them to turn down. However, they turned down in August without sufficient reason also.

Sometimes it can just take the BPCOMP turning down to turn everything down, just like the BPSPX turning up at an extremely low level in March turned the BPCOMP up from a neutral level.