Replies to post #25957 on ajtj99's Market Pulse

[ajtj99]

There are things in the daily charts that look bullish, but there are lots of things in charts and sentiment that still have not turned up. Zeev is often times early, but it's been about 2-years since he's been this early if our low does indeed come in 2-weeks. He's usually proved correct either way.

If we get a new lower low over the next 2-weeks, it might be only 25 COMP points lower than last week's low, so he basically's been loaded within 1% of the low if that does occur.

BTW, while he is loaded, it appears the majority of what he's doing is scalps while he waits for a sustainable up trend.

[Justa Werkenstiff]

T: Don't know what Zeev is seeing. You would have to ask him. Anyway, my sentiment indicators the past few months have either confirmed his road map or not confirmed it as I have been able to follow it. And it seems they have always been right for whatever reason no matter what the map of the day has been. Or, I should say, Zeev has been right when the sentiment indicators support his view. Right now, whatever happens, they are not confirming his road map.

NDX supported by QQQ options. IMO, instead of selling their nasdaq shares the past month or so, players have decided to buy QQQ puts instead. They put a floor under the market. Last month's open interest of puts vs. calls was huge. One of the things missing from any market bottom spotted has been selling as noted by the mediocre trinq readings which have not been consistent with any turn of the recent past.

In any event, I have no targets in mind but I am content in waiting for the market do do what it needs to do before getting bullish.