Replies to post #172020 on Zeev's Turnips Patch-No Politics (ZEEV)

[SantaCruz]

Previous times the daily stochastics had pulled back significantly

Yes I noticed that too. Along with PutCall being lower and New Lows being higher (though hardly anything to write home about). So my expectation is for a bounce that fails to make a new high. Probably at or just below the current downtrend line from the two recent highs (between 1970-1980).

OTOH, Any break above the upper TL starting in July and running across the Aug-Oct peaks would be extremely bullish IMHO and probably means an eventual move to the upper channel line which is somewhere around 2100 and rising sharply.

But, I'm a neophyte, so don't listen to me. :)