Zeev's Turnips - No Politics Message Board

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

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To: ajtj99 who wrote (62558)	5/6/2002 11:40:32 PM
From: Jeff	Read Replies (1) of 99280

paul.....my whole thing is about confirmation.....thats why i have been making calls here on the thread from every timeframe from monthly, weekly, daily, 60-30 min charts you name it....plus i made calls from moving ave lines, 3 different stochastics, MACD, PPO, ADX, double tops, head and shoulders, pierce and suckers, all really just basic T/A stuff... some folks are lost in e-wave outer space.. or looking at fundamentals or checking sentiment indicators.....you name it... and all you really need are a hammer.. wrench and screwdriver of the T/A signals...or the basic simple things.... folks over think too much....they make it complicated instead of staying "focused" on the basic's that have worked forever..... anyway.....looking at other charts tonight to confirm the bullish VXN longer term..... the dow made a lower low......hard to believe after watching that paint job on friday to hold it over 10k to maybe suck in a few more fools for today.... plus its "full" stoch on the daily is breaking down under 50....much like my call today on the 30-min SPX chart just before the market went into free fall.... dow is close to getting toasted....but they can easily do 200 pt sucker runs also before more collapse..... SPX....pierced today.... looking at nasdaq and NDX daily charts.....if those are 3 black crows....any bounce will be shortlived as 3 crows usually retrace about 50% of the down move before they crash even further.....another type of sucker play.... for instant....the nasdaq crows measure from 1695 to 1578....thats 117 pts ....50% move off that would be say 59 up pts.....1578 + 59 would be 1637....so it looks like that 1640 former strong support from last week would stop any mini rally..... thats just a rough guide....just have to see what happens tomorrow with fed and CSCO...they have many chances to short squeeze or crash this thing.... bulls might be better off with just a big blow out bottom....so they can just ramp up from there.... with 3-black crows....after the retrace....it gets worse on the next down.... its ugly out there...

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