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Strategies & Market Trends : Investor sentiment surveys - a technical indicator

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To: Mat Miller who wrote (51)4/21/1997 12:24:00 AM
From: Andy H   of 167
 
Unfortunately, I have to agree with the pundits that this week's rally will be retraced. The Dow Industrials will probably retrace 50% (it may have already) to 61.8% of its decline and then fall again. The put-call ratios were encouraging this week by holding in the .80s during the big cap rally. I suspect we will see deeper oversold readings on most technical indicators before we hit an intermediate bottom.
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