Replies to post #348837 on Zeev's Turnips Patch-No Politics (ZEEV)

[TREND1]

OK Just didn't want to miss any thing.

[lemming]

Zeev,

Usually by the time the NASDAQ has logged 3 breakdowns in a single decline (today was the third), the DJIA and S&P 500 follow suit. While the S&P 500 failed its 12/9 rally attempt on 1/20 and the DJIA failed it today, neither of these have logged a breakdown.

The last bear didn't look this strange. I wonder if the big boys are dressing him in a masquerade costume so as not to scare off the party guests?

-David

---------------------------------------------------

(Note: The previously shown 1/19 DJIA and S&P 500 distribution days were erroneous)

Distribution count (major distribution in []):

NASDAQ: 5 ( [1/4], 1/7, 1/11, [1/19], [1/24] )

S&P 500: 3 ( [1/4], 1/5, 1/11 )

DJIA: 3 ( 1/4, 1/5, 1/11 )

Index status:

NASDAQ: 12/9 rally BROKE DOWN on 1/04
(Recent breakdowns 12/7, 1/04, 1/19, 1/24)

S&P 500: 12/9 rally FAILED on 1/20
(No breakdowns since 8/11)

DJIA: 12/9 rally FAILED on 12/24
(No breakdowns since 8/11)

[Alexander]

Agree. Personally I see very limited downside from here...maybe we go a little under 2000, before we move up again.

alexander