Here are the complacency indexes, with the usual nonsensical drivel. (We've tried to fire the dipsomaniacal commentary staff, and just post the numbers, but the staff organized and joined a union. So for the time being, we're stuck with the commentary. With that in mind, we'll offer the CI updates for free.)
ST Naz CI: 14.7, down from 24.5. Trending down (bearish), but oversold. It could head under 10 or it could reverse. For that matter, it could stay the same. (See what I mean about the commentary: It's useless.) The CI is now at the point where it could reverse soon.
LT Naz CI: 78.4, down from 80.6. Don't parade Abby Joe out yet, because the Naz CI is still overbought longer term. In short, the Naz is still dangerous longer term.
ST S&P CI: 12.4, down from 47.49. How about that? It's way back down in oversold territory. The fact that it's trending down is bearish, but it's so oversold that a reversal could occur soon. However, keep in mind that the CI can linger at overbought or oversold levels while the market rallies or tanks. In other words, don't rely on such foolishness to predict the market. The CI's reflect what's happened, not what's going to happen. Still, they're smokin', happenin' indexes.
LT S&P CI: 67.7, down from 82.5. Trending down. Bearish. Moving out of overbought levels (above 70), though.
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