Replies to post #186140 on Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

I would call that wedge a bullish consolidation wedge. I doubt we can declare the "bull dead" unless that major containment zone in the Naz at 1842/50 (essentially 1300 on the NDX) is breached. That 1440/53 on the NDX is now getting to be a "quadruple" top (if 1453 is not taken out soon), and since triple tops are verbotten, quadruple one quadruply so (g).... I think that the big guys on the SPX, are going to take out 1100, and settle that quadruple top with a breakout. That is one reason for my bullishness (bullishity?<g>), in face of lousy P/C readings Friday.

[lee kramer]

atj99: I an't pull up the NDX for some reason, but the COMPX, if you pull up the weekly chart, looks like a 3-month "sideways" movement, a consolidation, of the prior move from 1108. To me this is "normal" action. And while there will be swings I'd not be in a hurry to assume that the next major move will be down. It may be prudent to wait to see if they break up or down.