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No low is in site with as many people guessing or hoping that it is......
A low of significance will be at hand when people are more worried about
losing $$ vs missing the next upmove.. so far that's all I see is people
picking a low so the train won't leave the station without them........ with
the bubble we've been through there is plenty of unwinding yet to do
especially with weak US$ .. markets go to extremes.. in these types of moves
you can throw normal tech indicators out the window.. p/c doesn't work
A/D doesn't work.... Remember: In 1987 the bears were right.
----- Original Message -----
From: "Steve Walker" <steve@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, August 19, 2001 2:37 PM
Subject: Re: [RT] Gen - mkt sentiment
> The last time the market sentiment closed this low was March 16. That
market low was followd by a 3 day rally which gave in to a subsequent
decline that turned higher on April 4 (SPX = 1103 close)
> The market rallied from that point and carried the SPX to a high of 1316
on May 22.
>
> The low has been made or is at hand. Which is it? Who can tell?
>
> Steve
>
>
>
> >>> bobrabcd@xxxxxxxxxxxxx 08/18/01 01:54PM >>>
> The contrary sentiment grew even moreso on Friday as the normalized Equity
> C/P and PutVolume and P/C ratios reached into the giveup zones. Such
> extremes have marked swinglows previously. Speaking short term, the
> Probability Sympathizer has also reached a market reversing level, but for
> the long run it has been lower and bases below the green line. That might
> just happen in the 3rd month of this quarter and first month of the 4th
> quarter. Total CBOE put volume is now between 1.5 and 2 times the ten day
> average marking an historical "shallow" buy probability.
>
> bobr
>
>
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