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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Justa Werkenstiff who wrote (20244)1/9/2002 4:27:39 PM
From: Zeev Hed  Read Replies (3) of 99280
 
Note that since the beginning of the year, we had 5 out of six days with the NYSE tick reaching a extreme above 1000, including today. Note that today we have had a major tic reversal (and exceeding -800 on the naz see #reply-16864523). These two elements force me to modify the original scenario (#reply-16842549) of a mild decline (from what was supposed to a target high of 2123) to 1960 at worst. These readings have caused me to change the first leg down here to be more severe by about 100 naz points (about 1860 or so) before we launch into another rally phase. I am not sure if that decline starts right now, I still have an outside possibility of a run to above 2100 before the end of next week (the critical test, IMTO is holding above 2025 in the current swoon). The significance of the last few days, however is the possibility that we are putting a major top earlier than I thought. Depending on the nature of the coming decline I'll have to modify the target highs for the next two or three waves up (I had 2250 and 2388 before we start on a major down turn in late spring).

I thrust, this is a little clearer, but you must admit that your sum up (#reply-16884922) was an extreme (and distorted) simplification from my original scenario (#reply-16842549).

Zeev
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