Here are the CI's. As I've said over and over again, they can't be used to predict the future direction of the market. For the future direction of the market, you'll wanna check with Maria B. each morning or some other luminary.
Further, as much as I'd love to be inducted into the society of perma-bears, I'd soon be thrown out, cuz I'm not one. When complacency plummets, I turn long, because I'm contrary. When complacency reaches upper extremes, I turn bearish. Can't help it. A flaw in my nature.
And so, without further ado:
ST Naz CI: 93.444, 96.880
MT Naz CI: 94.746, 97.544
LT Naz CI: 97.131, 95.817
ST S&P CI: 78.650, 79.270
MT S&P CI: 87.61, 86.08
LT S&P CI: 91.942, 90.416
They haven't closed at 100 over the past few days. So, as you can see, the market's not there yet. There's more room to the upside.
As I've said, I think the VIX and VXN might go lower, too, before the next big reversal. (I emphasize "might.")
This isn't to say that the market won't crash tomorrow. I have no idea what it'll do. I'm just saying that the complacency indexes indicate that there's more room to the upside. (Did you hear that, ye perma-bulls? UPSIDE. You can't burn me at the stake yet. When the CI's all hit 100, I'll tell ya, and you can become truly irate when I suggest the possibility of a down day in the market.)
Sorry I've been without data all week. |
