ZEEV, TECHNICALS - up to ZEEV:336139, 12/19/04
12/15: (334546) (*COMMENT*)
(Part 1)
Zeev, I've got a signal for a "Change of Direction Point" for December 29th. The market should work it's way slowly higher, into that date.
While most people don't think the market can go down the first week of the New Year, I do, afterall it happened in the year 2000 and I am sure that you remember what happened a few months later.
(Part 2)
No disagreement... except I am not sure yet about the first week, it could drop sharply if the last few days of the year are strongly up as it was in 1999.
(Part 3)
Looking back to 1990, the Market also dropped the first week of 1991, 93, 95, 96, 98, and would have been way down in 2001, except for the surprise rate cut... so I guess it drops about half the time.
(*END*)
There goes the January lore (if first week up, the month is up and if the month is up the year is up) (g).
12/15: (334929) (*COMMENT*)
Equity only put/call at .41. Not low enough, I guess for much of a pullback...or is the market gonna defy and pullback next week prior to Christmas, but after options expiry?
(*END*)
Market could still pull back this and next week...however, a lot of money is jumping on any minimal retrench, so I know not how much of a pull back one should expect.
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