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Strategies & Market Trends : Take the Money and Run

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To: Jorj X Mckie who wrote (12824)	8/3/2002 5:57:51 PM
From: SusieQ1065	Read Replies (1) of 17639

Johnson Says Capitulation Not Over Schaeffer's Managing Quantitative Analyst Chris Johnson said today that the majority of his Sentiment Indicators are not confirming that last week's plunge of the SPX and other major index leaders indicate that we've reached the classic point of capitulation needed to form the foundation of a firm and continuing market rally. "Last week's SPX low of 775 could be retested in the near future," said Johnson. "We were technically in an oversold position last week, so no one should be surprised by this recent uptick." Johnson uses sentiment indicators such as put/call ratios, open interest ratios and other technical filters to detect and quantify investor sentiment. "These indictors have proven themselves over many years and many ups and downs," said Johnson. "We're not there yet." schaeffersresearch.com

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