Replies to post #1872 on Zeev's Turnips Patch-No Politics (ZEEV)

[hk2]

The long-term support line has crossed over the short-term support line, but that still doesn't help until we fall below 1300

[Softechie]

Talked to an accountant today. He said many retirees are bailing out from their funds and go cash. They won't expect to be in market for rest of their lives. So money is pulling out to support the house of cards.

Also talked to another broker and many middle-aged clients are very worried. It's getting very close to capitulation time for these folks as well.

If Dow craps right through 8300 then it will break the neckline. SPX NDX UTIL COMP all broke neckline.

You will see SPX at 800's, Nasdaq 1100, and Dow at 8000...