Replies to post #275534 on Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

Zeev, I've got a couple things that point to this ending at COMP 1825/NDX 1355, but we'd drop to make lower lows in the end of August at around NDX 1355 and COMP 1795-1800.

The low 5-day TRINQ is a bit of a problem near term, as is the put/call's lack of an extreme at this level.

A VIX spike to around 19 would get us to the upper channel line on the monthly VIX, and that's not far from today's high:

http://stockcharts.com/def/servlet/SC.web?c=$vix,uu[w,a]mhclyyay[df][pd20,2!f][vc60][ilb14!la12,26,9...

I could see us moving up to as high as COMP 1965 into August 10, then dumping into the end of August for a more lasting low.

[george8]

$compx weekly channel lower line is about 1812 for this week. It would be convenient and chart beautiful to turn right there. If this is the case, it most likely would do it Tues at 2.22 pm or Wed at 10.45 am. I think the reversal is only for 100 $Compx points. The market will stall again at 1930.