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Below are the results of our weekly "Guess the Dow" sentiment survey. The survey
was taken from 12/5 through 12/21 on our web site.
Number of participants: 369
30 day outlook:
45% bullish, 35% last week
17% bearish, 28% last week
38% neutral, 38% last week
(percentages may not sum to 100 due to rounding)
Median guess for the DJIA closing value on Friday, 12/26: 7980 (it was 7980
last week). More complete sentiment data is available at
<http://www.lowrisk.com/sentiment.htm> .
Sentiment took a sharp bullish turn this week. Bullish sentiment picked up 10%
to 45%. Neutral sentiment stayed even at 38%. The entire gain for the bulls came
at the bears expense, as bearish sentiment fell to 17%. The level of bullishness
is not at a worrisome level yet, but the 17% bearish reading is one of the
lowest we have had. And this turn towards bullishness is surprising given the
negative price action last week. Those two factors have us questioning whether
the Santa Claus rally will make much of an appearance on Wall Street this week.
To try this week's contest, stop by: http://www.lowrisk.com/guess.htm
More sentiment data is at: http://www.lowrisk.com/sentiment.htm
regards,
Jeff Walker
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RBI Trader's Weekly
http://www.lowrisk.com
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