Replies to post #222070 on Zeev's Turnips Patch-No Politics (ZEEV)

[Bullwinkle]

COMPQ looks to be setting up for a possible island reversal... 1900 looks like a fairly solid shelf, maybe a touch or slight dip of the 200DMA first?

[ajtj99]

Zeev, 1867 appears more and more to be the target on the COMP, as that's a bear flag measurement.

I can't recall a good low without a put/call ratio above 1.00, and I think this one probably needs to be 1.25 or so.
The put/call today was an indication many folks believed the lows were already seen. I'm not sure we can reverse that kind of optimism in one day, but I'd sure like to if we can.

BTK is getting very close to a line of doom at 485, and the SOX is nearly at 448. I think the SOX shows relative strength and the BTK takes up the slack. NWX is very close to 252 support.

We also need CSCO to get below $22. No way this market can make a low with CSCO's low happening 10-days prior, which is the current situation. MSFT may need to tag 23.50 also.

Get the Dow below 10,000 intra-day, and I think the puts will start piling up.