Replies to post #260289 on Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

There are lots of charts that need to be repaired. Take the NWX weekly:

http://stockcharts.com/def/servlet/SC.web?c=$nwx,uu[h,a]waclyiay[dd][pc9!c13!c20!d20,2!h.02,.20!c50!...

If it fails to take out the downtrend line at around 250 and instead forms a double top, it stands a decent chance of remaining in the down-channel off the January highs and fulfilling the A=C drop to 205, which would also be the bottom of that same channel.

The BTK, SOX, and NWX all need to break out of their downtrends for us to point up in earnest. The SOX needs to break 480 to do that.

We can go up without one of these indices, but we can't go up sans all three.