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Strategies & Market Trends : Complacency Indexes
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To: TechTrader42 who started this subject3/25/2002 4:59:31 PM
From: TechTrader42   of 1487
 
The market wasn't overbought last week, of course.

Incidentally, the Naz CI's nearly hit 100 this morning. There was time to listen to that intraday signal and reap some gains. But it would have taken shorting the market, which is sinful.

After the close:

ST Naz CI: 67.990 88.089
MT Naz CI: 75.865 91.638
LT Naz CI: 91.207 96.728

ST S&P CI: 74.302 98.324
MT S&P CI: 81.782 98.830
LT S&P CI: 94.716 99.655

Ever wanna really annoy perma-bulls? Warn them to get out -- or at least not to buy -- right before big corrections. For some reason, this really gets to them.

And want to see TA at its most mysterious? Read perma-bulls' analysis at tops -- even those who are supposedly capable of analyzing charts. They'll systematically ignore every bearish signal, even with their own best indicators. The delusional power of positive thinking, I suppose.

But I forget, in hindsight, they were all bearish.
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