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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Chris McConnel who wrote (14112)12/19/2001 1:56:13 AM
From: Psycho-Social  Read Replies (2) of 99280
 
Trader Sentiment:
No, the bullish sentiment #s have been rising slowly. Although the last 2days' #s have gotten to the 60% area for the S&P and the upper 50s for the Nasdaq, I don't consider us to be even short-term overbought unless the 3dy ave gets into the upper 60s and the 5dy ave gets 60%+. Right now, both trader sentiment indices are still neutral. The average of the 3 Barrons sentiment measures I follow, however, has been intermediate term overbought for a few weeks. That's an important risk/reward indicator, but is not a good timing tool.
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