Replies to post #131734 on Zeev's Turnips Patch-No Politics (ZEEV)

[lee kramer]

Hi hitecheast: Looking at the COMPX daily, the most I can glean is that today was a reversal day. Maybe the start of of mark-down phase, maybe not. I sure don't know.

[DlphcOracl]

I would vote for either a 38% retracement to 1521 with a 50% retracement to 1442 being a less likely "worst case" scenario. I think this is a correction in a cyclical bull market that still has another 12-14 months or so to fully play out, with the Nasdaq eventually reaching reaching between 2000-2300. No way do I see us retesting the October lows this year, however.

P.S. If I am correct with regarding to Nasdaq high during this cyclical bull, it will be the Mother-of-All shorting opportunities.

[Zeev Hed]

All four possibilities are open, the worst as well, simply because we have had recently unprecedented bullish sentiments in too many sentiment series.

[augieboo]

Ken, here's my Naz WAG:

Note: it's basically just a congestion zone of fib retracements and horizontal support levels.