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Ha! the only source of that answer is the market itself, in its own way, on
its own time. What is different this time prior to the FOMC? Haven't the
other FOMC's especially the early ones been prefaced with a rising mkt only
to sell off after the 2:15PM announcement? This time we have a falling mkt
ahead of the FOMC with historically low sentiment readings. No trend bias
implied, just an observation.
bobr
----- Original Message -----
From: "Steve Walker" <steve@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, August 19, 2001 11:37 AM
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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