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

To: Crimson Ghost who wrote (14701)	12/19/2001 7:08:17 PM
From: ajtj99	Read Replies (2) \| Respond to of 99280

George, by 9%, that's the SPX, which translates into 1050 SPX and about 1600 COMPX. That's kind of hard, but not necessarily brutal, considering where we were at a couple months ago. I wish I could be certain things will go down hard. If we go up in January, I'm of the opinion we may get a repeat of last Spring, when everyone was talking v-shaped recovery, but it appeared it would happen later rather than sooner. Another other option could be the drop like we had over the summer. I believe Zeev's scenarios may also involve rising and falling wedges in addition to the other normal indicators, so the targets are more complex when woven into the web of the turnips. Either way, I think most here would tend to agree the January effect should be respected, and a sell-off or correction in February should be expected. I think the direction will be much more clear by the time mid-February rolls around.

To: Crimson Ghost who wrote (14701)	12/19/2001 8:55:51 PM
From: Justa Werkenstiff	Respond to of 99280

George: Your hard down scenario has chart support in a descending triangle that has emerged since comp 2065. I have seen no mention of it on SI, but is apparent to me on tonight's Savy Charts: saavycharts.com He calls it compression. I see a potential descending triangle. The spike up had good volume but it trailed off after two days and we certainly have not matched that volume since. You may recall that we played touch and go with 1934 throughout the latter part of this past summer before that triangle broke. There we had a descending triangle from the May highs forward. It may be that we are doing so again in a compressed fashion. We touched it once or should I say four or five times in one day last week <g>. A break at 1934 could well produce a hard down.