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Hello Mark,
%Bearish today is lowest since 1991:
http://www.schaeffersresearch.com/streetools/inv_intel.asp
". High readings suggest excessive optimism, which typically occurs
when buying strength has been tapped out, and low readings represent
depleted selling strength, and tend to precede market rallies. We
normally view a bullish percentage higher than 55 combined with a
bearish reading lower 30% as bearish for the market."
Best regards,
Alex mailto:alex_bell@xxxxxxx
Thursday, May 22, 2003, 9:36:17 PM, you wrote:
MS> You meant "higher high", right ?
MS> Don't underestimate the bulls....they are wildly optimistic right
MS> now.....and holding this market up.
MS> Bull-Bear survey ratio now at the highest point in years....
MS> -----Original Message-----
MS> From: none [mailto:profitok@xxxxxxxxxxxxx]
MS> Sent: Wednesday, May 21, 2003 10:40 PM
MS> To: realtraders@xxxxxxxxxxxxxxx
MS> Subject: Re: [RT] spx daily
MS> Hello
MS> I am with you that there is a high probability that we make a lower high
MS> tomorrow or Fri. and then collapse
MS> Ben
MS> ----- Original Message -----
MS> From: Rhonda Guilbeaux
MS> To: realtraders@xxxxxxxxxxxxxxx
MS> Sent: Wednesday, May 21, 2003 7:37 PM
MS> Subject: [RT] spx daily
MS> Last quarter's candle waist 882.
MS> right at the 200 dma area.
MS> Higher support..at the 898 area.. (near the rising 50dma)
MS> Wouldn't be surprised to see this price level tested.. and also to
MS> hold, initially
MS> anyway.
MS> if not, 867-882 looks to be a good higher support area.
MS> Breaking above last weeks highs and more important
MS> 953-955 then I am incorrect in my assessment that last week's
MS> high is "semi" important and perhaps
MS> a slightly stronger pullback than what
MS> we've seen thus far coming off the
MS> March higher low.
MS> Tend to think any high made latter week
MS> will be a lower high than last weeks
MS> high as
MS> last weeks low was broken below.
MS> I do
MS> Best,
MS> Rhonda
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