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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (4036)	11/8/2001 1:28:28 PM
From: JRI	Read Replies (1) \| Respond to of 99280

So many are looking for 1920/1940 now...I am thinking we do not get there (so I agree with your idea that we may have seen top)

To: Zeev Hed who wrote (4036)	11/8/2001 1:45:50 PM
From: ajtj99	Respond to of 99280

TRINQ says we're making another attempt, but the 15-minute and 60-minute charts show that after the initial thrust, it is getting harder and harder now. 1890 has been decent resistance in the past, but 1920-1940 range is a brick wall.

To: Zeev Hed who wrote (4036)	11/8/2001 1:52:30 PM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 99280

Zeev: In my opinion, unless we get 1920/40 today or tomorrow, it will not happen on this trip and, more than likely, this year.

To: Zeev Hed who wrote (4036)	11/9/2001 12:17:56 AM
From: dwayanu	Read Replies (3) \| Respond to of 99280

... situation very close to the late May situation. ... So close it's spooky, Zeev, following your time-compressed scenario to a 't'. -- The first top at 1750 like the one in April, the second at 1792.87 like the early May one, and today was the third top, like the one in late May at 2330. -- The QQQ was strong in the first top, weak in the second top, and very strong in the exuberant third top, just like last April/May. -- As you noted, the third top here was midway between your two targets, just like last May's 2250 and 2388. -- The relation of the Naz chart to it's 50 dma now, is roughly the same shape as then, 5 weeks over it back then, working on something like 3 to 4 weeks over it here. (50 dma bottomed at about 2000 then, and presumably about 1670 here.) -- The pullbacks from the first two tops here were 7% and 9%, back then they were 9% and 8%. Like I say, spooky <vbg>. Short term implications based on the assumption that we're repeating history, for whatever they may be worth: -- The pullback after the last May high was slow for three days, then accelerated sharply downward. -- The pullback from the late May high was 10% over 5 days, didn't quite get to 50 dma. That would be equivalent to about Naz 1680 now, which is just above 50 dma at 1670. (A minimum 7% pullback would be 1735, breaking your 1754 line intraday.) -- The next Naz high here will be a lower high, probably probing just past 1793/1815 (the 4th high last June was just over your 2250 <g>). (There is a building groundswell around SI the last day or so that we are going to higher highs before we swoon. Contrarian?) Some divergences: -- The Naz tops here don't show the rounding over that the April/May tops do on daily charts. -- Next week is options expiration, not the case last May, may mess with the shapes. -- There have been numerous occurrences in the last week or two of QQQ and NDX diverging during the day, I don't recall that from last May. Luck! or Good Trades! preferably Both! - Dway