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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Zeev Hed who wrote (30792)2/18/2002 7:51:44 PM
From: ajtj99  Read Replies (1) of 99280
 
That's why I believe in lower highs and lower lows still, Zeev. If the SOXX hits 320 on the H&S result I measured, we'll have lower lows on the COMP.

We've had lower highs in Sept. 2000, Jan. 2001, May 2001, and now Jan. 2002. I don't believe we'll break that trend on a spring rally.

Furthermore, how can we have a solid bottom with a rising wedge? Until we have a bottom without a rising wedge, we will be living with the prospect of revisiting the base of that wedge. We will need to empty the market of hope in order to do that, and I just don't see that yet. Maybe in another year or two. People are just too forgetful about the recent past it seems.
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