Replies to post #297548 on Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

Nope, on this go around, I think we saw the top on Monday when we got close to 400 intraday. Still holding the same tenet since March, BTK is a better place to be at least till the October bottom, then we might have some firework in the sox. Maybe a move to 460 (from an October low in the 350/360 area, see #msg-3779968).

By the way, went out at 50% cash here, and I still do not have a clear sell signal, so the bear suit is still only partially on.

[otraque]

FWIW, my 2-bits. I have $SOXX-60min in a tightening and explosive symmetrical triangle.
My parameters are now quite narrow for breakout or breakdown.
I am placing breakout on bust out at 392, with whole number resistance at 400 the only ? mark.
Break down i am setting at a bust down at 384.
Formation looks like a springboard to breakout, but OEX closes are not ones i like to hang my hat on.
But i can not can see Monday being a no-decision sideways day.
I am looking for that sym triangle on 60min to show $SOXX direction on Monday.
We closed just short of a 50% retrace from last low relative to the last high.