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In a message dated 2/24/00 6:19:14 AM Pacific Standard Time,
patterntrader@xxxxxxxxxx writes:
<< A couple people have mentioned sentiment as a contrary indicator. I've
found
that the numbers in the IBD are pretty good for this. Unfortunately I
canceled my subscription, does anybody happen to have their current
bull/bear sentiment?
>>
Bull 52%, 5 year hi 62%, low 32%
Bear 29%, 5 year hi 47.5%, low 22.6%
Total put/call is a pretty good indicator in IBD too. Currently .37 ; 5 year
low .33.
.40 and below is correction territory when the market is extended.
A side note on sentiment. Does anyone look at CIT dates via say, GANN,
Astro, etc., for the sentiment reading dates, in addition to the market? If
the CIT misses the market turning point by a few days, maybe it hits the
sentiment extreme closer to the mark.
RayF
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