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Strategies & Market Trends : Point and Figure Charting

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To: chartseer who wrote (25145)	2/1/2001 9:49:09 PM
From: Bwe	Read Replies (1) of 34822

Steve, The Investor's Intelligence sentiment index just hit 61%, nearing a 5 year high set on 6/1/99 at 61.3%. I'm not sure if this is necessarily a bad thing though, at least for the short term. The Dow was at 10,596 on 6/1/99 and ended the year at 11,497, a gain of 9%. NASDAQ was at 2412 and finished '99 at 4069 for a whopping gain of 69%. Longer term, the Dow is within 5% of where it was in June '99 while the NASDAQ is 15% higher. I'm unsure, however, if this indicator can be used to make any money. I'd like to see Chartcraft take their database of the many years they've been keeping this sentiment index, and come up with some numbers indicating % gains/declines subsequent to extreme bullish/bearish readings. Bruce

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