Replies to post #87792 on Zeev's Turnips Patch-No Politics (ZEEV)

[Babylon]

I'm sorry, I meant to type phase-II...

[positiontrader]

Zeev,

This is what I wrote.Your thoughts.

Regards

MarcPosted by: positiontrader
In reply to: Zeev Hed who wrote msg# 87472 Date:3/16/2003 11:58:13 AM
Post #of 87786

Zeev,

You may recall I took off my horns and had given up on my "through the 200 day MA of the NDX and not look back" scenerio until last Wed.I even had my bear suit on and was about to zip it up.On Thursday I put back on my horns and watched consolidation occur in the market on Friday.I still may be wrong. I have only been learning now for a year.For sure I was at least 2 weeks early in the call.

The 10 day TRIN is at the highest level I could recall.That high level normally
means at least a tradable rally is coming.

IMHO I still see a reverse head and shoulders pattern with a very distorted right shoulder.Just looking at the NDX chart do you see what I see or am I way off base in my reading?

Regards

Marc

[calzone]

ZH, can you comment on the internals from BigChart.com news. Any validity here?

12:23PM Stock surge supported by bullish Arms reading by Tomi Kilgore
The major stock market indexes may be up 2.5 percent or better, but the broad market's internal readings are suggesting the overall market is actually much stronger than that. The Arms indexes, which relates advancers and decliners to up and down volume, are currently at 0.29 for the NYSE and 0.16 for the Nasdaq exchange. Readings below "1" are considered bullish. Advancers are outnumbering decliners by a 22 to 9 margin on the NYSE and by an 18 to 11 score on the Nasdaq, but up volume is more than 8 times down volume on the NYSE, and more than 10 times down volume on the Nasdaq.