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Strategies & Market Trends : Classic TA Workplace
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To: AllansAlias who wrote (20283)11/10/2001 7:51:34 AM
From: AllansAlias  Read Replies (1) of 209892
 
Rydex Bullish% Update

No change really. Like the market, not much change for two days now. Here are the numbers, then a few thoughts follow on the action since the Sep lows:

  Change
  Overall Bullish%   68.8%    -.0%
  Dynamic Bullish%   54.6%   -1.6%
 Money Market ($M)    1337   +2.1%

                     ____From Sep Lows____      _______100 Day_______
                       Avg    High     Low  |     Avg    High     Low
  Overall Bullish%   65.9%   71.4%   59.0%  |   71.4%   83.7%   57.1%
  Dynamic Bullish%   51.7%   61.4%   40.8%  |   57.6%   78.2%   38.9%
 Money Market ($M)  1380.1    1603    1159  |    1391    1609    1159

Rydex bullish% figures have hit 3 peaks in the move off the Sep lows. Here are the peak values alongside the close for the NASDAQ Composite, historically a better correlation to Rydex. Note the bullish divergence.

           Overall     NASDAQ 
          Bullish%  Composite
Oct 16       70.7%       1722
Oct 25       71.2%       1775
Nov 6        71.4%       1835


This reinforces for me the strategy we've been talking about since Thursday evening: the down expected Monday and/or Tuesday will be a good place to cover. I want to print a decent new high in sentiment before going short for more than a couple of days.
_________________
For specific fund information, see JT's Rydex update on his thread:
Subject 28666

See the message I am replying to for last night's update.
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