MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who started this subject	1/29/2002 6:07:33 PM
From: High Country Trader	Read Replies (1) of 19219

Below is a scary link on someone who has been right-on this month. Trouble is, he also missed the big fall rally. Some of his stuff is sentiment-related, especially the lack of corporate buying. And I agree that is a major concern. As best as I recall, no market has ever reversed powerfully (quickly) to the upside in the face of such negative readings (too few bears) per Investors Intelligence - another sentiment indicator that has been right-on the past year. Instead, it takes a process of at least several weeks (usually longer) of increasing bearishness among newsletter writers to get the necessary base for a liftoff. What will be interesting is if VIX gets over 35 and the assets of the Rydex bear funds gets to 2 to 3 times the bull funds but we continue to get low readings from Investors Intelligence bears. That's never occurred before and something will have to give. trimtabs.com

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