Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: LTK007 who wrote (13663)	12/14/2001 7:50:54 PM
From: ajtj99	Read Replies (1) of 99280

Max, the disconnect was much more pronounced on Nov. 15. The 15th the NDX closed at 1582.58, and the COMPX closed at 1900.57. The COMPX was as low as 1888 when the NDX hit 1580 in November, so it seems to me that the NDX is subordinate to the COMPX at this level of resistance (1934 COMPX), as it probably should be as a sub-index. On August 10 we did take an excursion below 1934 to COMPX 1916 and NDX 1576 before bouncing up to 1998 COMPX 4-days later. table.finance.yahoo.com table.finance.yahoo.com We were dealing with different parameters back then, but it does indicate we could have an intra-day excursion below 1934 and bounce. One thing that may hinder that possibility a bit is the fact that 1934 was not as well established as support/resistance as it is now. Maybe we could hit COMPX 1922-1926 intra-day and still bounce a bit. Either way, this is selling time. There is a clear down-channel established now with a possible evening star. Deja-vu with this range and August, complete with the evening star.

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