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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Jeff who wrote (57160)4/26/2002 1:46:04 PM
From: ajtj99  Read Replies (1) of 99280
 
Jeff, we may not close the gap at "Abbey's Island" at COMP 1770. That would be a nice rally, and I was counting on it before this drop below COMP 1677.

I discounted a rally to COMP 1832 earlier this week. We've only seen one double top in this bear in the past year at 2098, so unless everyone is happy and confident we're seeing improvement, the double top just doesn't seem a reasonable possibility in this downdraft.

Interesting how the Dow is being held up right now. That I expected. As for the SPX, a sucker rally to 1111 or 1119 may be enough before they pull the rug out.

I looked at some numbers the other night and believe COMP 1425 could be the target for a low in June.

BTW, if we get to 1770 on a bounce, that would make a good target off a June low. It would also give us a double top. I think we drop to COMP 1300 at the end of Dec, rally to 1650 in January, drop to 1150 in the end of March, rally to 1500 in mid-May, and drop to 1050 COMP in the fall 2003.
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