Zeev's Turnips - No Politics Message Board

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

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To: t2 who wrote (33251)	2/25/2002 5:24:45 PM
From: 16yearcycle	Read Replies (7) of 99280

I HUMBLY submit that this weekend this thread was the most bearish I have seen yet, and this was in the face of 3 critical indicators: 1. the ndx testing the April lows on Friday and reversing up. It's as if it slipped by everyone but Larry. 2.everyone who is looking at the nas bp and nas summation seems to have missed that the rsi on both STRONGLY suggested a bottom. Only in Sept did the rsi go lower. And only after the 11th. The April, 9/10 and last Fridays level do form a potential triple bottom. 3.We also nearly touched a 20% bear correction on the nas from the Jan top, and then reversed up. The fact is that we had a low volatility, narrow breadth sell off, not atypical of an intermediate correction. I am more with the group that thinks we trudge around here for 4 weeks, and correct slightly lower in late March, hitting the ta indicators everyone is looking for, and then rally, but it amazes me that 3 major ta things happened around mid day Friday, and we reversed 90 points and the majority is VERY confident we go lower. Confidence is a bad thing. (this is not at all directed to anyone in particular. The vast array of views is healthy)

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