Replies to post #116687 on Zeev's Turnips Patch-No Politics (ZEEV)

[otraque]

With 2.94billion volume on COMPX friday, and a DarkCloudCoverCandle on COMPX and a Shooting Star Candle on SPX , if we rally here i will revert to my Fed is at work "paranoia":).
My logic says TA should take indexes to test, at least 20emas; which be COMPX 1561/SPX 953/ and NDX100 1170.
If this does not happen i will summarily blame this on PPT:)
If we start this week, rally ho boys--we are bulldozing through TA and just plain going bonkers, and will, in my opinion be setting up a rip-roaring counter reaction down the road.--gd--- p.s. as i am just now looking for trend correction/slowdown if not a reversal---i will fade away to near close.gd.

[lee kramer]

Hi Godfrey: Thanks for the symbol. I pulled up several charts.The monthly shows that the severe mark-down phase, 250+ in 200 to rougly 100 in mid- 2000 has been broken.The weekly shows a new mark-up phase...a series of higher highs and higher lows. The daily shows the index moving above the rising 10, 20 and 40 day moving averages. Friday's action suggests a temporary reversal day,[the 60 minute chart lends credence to the daily action on Friday] with the probability that the index will pull back a bit. This is normal action. For those who like the sector, the pullback may offer a nice entry. I'd suggest bit of patience.