Replies to post #16648 on Zeev's Turnips Patch-No Politics (ZEEV)

[wahz]

Thanks, I appreciate your posts, viewpoints and efforts. Your additional post to me has cleared things up. I understand all caveats...believe me.

All the best.

[m1o2n3i4c5k6]

LG, with the moving target(s) possibilities you have outlined, as the day unfolds tomorrow, perhaps during the day if the picture becomes clearer, you could update your assessment where the Nas will retrace?

Appreciate all the fine work you do. Thank you.

[ajtj99]

LG, I just read a post where Don Sew studied bear flags going back on the COMP and NDX:

Donald went back to 1991 and examined 11 occurrences of Bearish Wedges/Flags and the duration of each. Before these broke down, Don noted that they lasted 18-23 days, except for one which lasted 26 days and another which lasted 28 days.
(One of the examples was from the early 1930's)

Currently the S&P, and the DOW have Bearish Wedges which are 18 days old.

That might give more weight to a 50% re-trace if we are getting another leg up (which I expect).

Some of the things I'm looking at appear to be falling into place for a top or a re-test of a top going into Sept. expiration and a drop into October, with a widely expected turn date at Nov. 7 as a nice place for a re-test of the new lows I expect.

Max Pain for Sept. is 24 on the QQQ right now.