Replies to post #76915 on Zeev's Turnips Patch-No Politics (ZEEV)

[leon]

key level to watch this week is ndx 990 which represents confluence of several points of resistance; 2/11 pivot high, falling R line on a closing basis and 23.6 retracement from dec. high to feb. low. LEON

[unctarheel]

zeev, i am in agreement that a quality low has yet to be put in per my composite sentiment indicators. doesn't mean fri. ramp can't continue somewhat but i think the odds are very high we're going much lower. as a point of reference, the july and oct bottoms had readings of 37 and 36 respectively( scale says higher=more negative sentiment); fridays reading was 16( 15 thurs.), so imho, the fear of missing the next "bull" is still the prevalent sentiment. LEON


Leon,
Care to elaborate on your "system"? It sounds interesting and helpful.