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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Terry Whitman who wrote (15843)1/20/2003 12:57:16 PM
From: mishedlo  Read Replies (3) of 19219
 
What is AMAZING is that bulls, having witnessed absolute carnage in February two years running have close to zero respect for bear claws. Furthermore, weekly stochastics and CCI have topped out and headed down. The trend for 3 years now has been for them to cycle to the botttom (with massive sellofs) and we just now started down.

Furthermore, I do not see jubilant bears anywhere on SI. I see cautious bears, taking quick profits. I do not see huge numbers of Puts accumulating in the money, but I do see investor sentiment rations showing 50% bulls and 25% bears on at least 2 different surveys.

Finally, SI bearism is hardly an average reflection of USA investors, so attempting to judge reality by what people are doing on SI is pushing it quite a bit.

M
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