Here are the CI's:
ST Naz CI: 66.702 85.714
MT Naz CI: 66.702 85.714
LT Naz CI: 89.892 95.663
ST S&P CI: 81.536 83.007
MT S&P CI: 81.536 83.007
LT S&P CI: 93.442 93.964
In hindsight, it looks like the top (in complacency) was Friday, when the indexes were here:
90.231
91.484
97.034
95.425
95.425
98.375
Sentiment on SI was aggressively (and obliviously) bullish last week, too. I guess that was another hint of things to come. Charts such as LU's were declared good charts, breakouts, etc. It's hard to figure, with the shooting star, the resistance at the 200, maxed out stochastics and all.
But anyway, if anyone had any doubts, there was the always reliable AJC indicator. That never fails, it seems.
The benefits of hindsight, ya know. The fact is that no one knows the future direction of the market (except for a few esteemed analysts who favor saffron robes, of course). |
