Replies to post #300261 on Zeev's Turnips Patch-No Politics (ZEEV)

[westpacific]

October 8th would mark the perfect low reversal, look for a big down move around that date.

Then the 4Q rally.

[marketmaven]

Steve, Abby JC says today is a "distribution day" LOL
(Like Al Goldman at AGE, she rates the market HOLD/AGGRESSIVE)

AG Edwards -(CLX) Assumed coverage with a Hold We rate the CLX share HOLD/AGGRESSIVE. Through acquisitions and solid innovation, Clorox has built a unique portfolio of leading brands in smaller "niche" categories, predominantly in North America. Today, Clorox owns #1 or #2 market share position in eight of the ten categories it serves and competes more often with private label than branded players, which limits aggressive "price wars". The company has also been ahead of the curve with innovation over the last five years, owing to the introduction of "gamechangers" (hot new products expected to lift category growth), which have accelerated company sales in its typically low to modest growth categories.

[lemming]

Steve,

As of yesterdays close (not distribution, as volume dropped again), there is only a one day breakdown window (today) on the DJIA. The NASDAQ breakdown window closed Thursday.

Current distribution days:

NASDAQ: 3 ( 9/8, 9/15, [9/22] )
S&P 500: 3 ( 9/8, 9/15, [9/22] )
DJIA: 4 ( 9/8, 9/9, 9/15, [9/22] )

Major distribution on the DJIA today (only) would indicate a breakdown there.

The NASDAQ and S&P500 would normally require two distribution days, the second being major distribution, to signal breakdowns there. However, since each have distribution on 9/8, which falls off my three week radar Wednesday, their breakdowns actually require 3 days of distribution by 10/5, the third being major distribution. Of course, each distribution day pushes the breakdown window further out.

Note: this is a trailing indicator, not a predictor. I have been doing some work on using low distribution as a leading indicator for declines (on the premise that the big boys like to run prices up--low distribution--before taking profits and driving prices back down to a discount--high distribution), but the jury is still out on that one. Church, family (wife and 5 children), and a day job do take time...

Got to go before Zeev calls me "Mauldin",
-David