Replies to post #41225 on Zeev's Turnips Patch-No Politics (ZEEV)

[SI_Shack]

Thanks Zeev. I wonder if I should be using the NAZ TRIN any longer. I find it gets unduly influenced by the plethora of 'pennies' now trading there (SUNW, JDSU, VTSS etc..). Indeed the NYSE TICK/TRIN relationship is perhaps the biggest red flag for me.

Do you do any work with classical TA patterns? One of the reasons I am very bearish right here has to do with the deadly looking wedge which has formed at the end of the recent launch up on Citigroup.

Here's a picture which is from Thursday. http://marketswing.com/discus/messages/968/109088.gif

If this is correct it portends new lows fairly soon.

[ajs]

zeev,

the SOX percentage of issues above their 10 DMA going to the 97/98 range

I just checked every component of SOX index and found that all of them ,i.e. 100%, are above their 10 DMA.

Here are the SOX components:

ALTR, KLAC, MOT, NVLS, AMAT, LLTC, MU, TER, AMD, LSCC, MXIM, TXN, BRCM, LSSI, NSM, XLNX, INTC.