(CORRECTED VERSION) Zeev's NASDAQ prognosis, UPDATED FRIDAY, MAY 24
See corrected text in bold
1. Zeev says that the Memorial Day rally is over and the near-term top is in, at 1697.
2. Zeev gives the following update on the second leg of the Nassacre:
a. How Deep?
The Turnips say the next trough will bottom at 1519, +/-10, i.e., NASDAQ 1509 – 1529.
b. When?
The Turnips say the trough will be reached on Wednesday, June 12, at approximately 10:30 a.m., EST.
3. Following the low the morning of Wednesday, June 12, the NAS should bounce until the following Tuesday, (June 18). The Turnips expect this bounce to be in the range of 45 to 65 Naz points, and have a nominal target/top (for the bounce) of 1574-1584.
4. Final Decline to sub 1400/1450 area by June 28 +/- two trading days, i.e., June 26 to July 2.
IMPORTANT NOTE:
There is a possible, (but not probable), second scenario in play here:
IF the NASDAQ tick count reaches -1000 for at least three of the following four days –
Friday, June 7
Monday, June 10
Tuesday, June 11
Wednesday, June 12 (morning)
THEN this coming Leg Two could be the last leg of the Nassacre.
IF this were to occur, the final Nassacre bottom would be deeper, with the
Turnips predicting a trough of 1439 for this alternate scenario.
NOTE: Zeev says there is only an “outside” chance of this second scenario playing out.
DON'T FORGET! Monday, May 27, is Memorial Day,
a U.S. Holiday, so there will be no trading in U.S. markets. |
