Replies to post #36657 on Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

M worst case is a retest of the SOX low, but my most likely case is the 50% retracement at 237/40 as mentioned a number of time. Why 50% and not 61 or 83 or 100%, because I have many other general market indicators (and my cycle work) indicating a good quality bottom was formed late in July the action since then (including the new lows) were in essence major base building, and the cycle work indicates an end to the base building next week, all these put together and cooked according to Mrs Hed Turnips recipe yielded my suggestion. Can it be different, It as many times in the past, so beware, this advice is worth what you paid for it (g).

Zeev

[hamvestor]

The Freep - interesting observation on the SOX. The candle pattern is similar, and the other noteworthy piece is that in August, the SOX is bumping up against the upper part of the BB channel. When that happened in August, the SOX began a protracted decline. I'm hoping the environment has changed so that recent history won't repeat itself, but it will be interesting to see how it plays out over the next week or two.