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Strategies & Market Trends : Classic TA Workplace
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To: Moominoid who wrote (131590)4/3/2006 12:51:10 AM
From: Shack  Read Replies (2) of 209892
 
The 10-day MA of the ISEE option index measuring new long call positions divided by new long put positions is now at a level tantamount to the April 2005 swing low.

Throw on the sentiment polls like IIA and AAII, the RYDEX numbers I just posted to you, the highly underrated upside break on the weekly COMP ED wedge and you have a fair bit of empirical evidence supporting a melt-up.

And just for the record, this thread is not a good measure of sentiment David, we have like 20 regular posters and IMO most seem neutral with an even split on either side for the remainder.

As for anecdotal public sentiment towards the stock market, my recent observations is that NOBODY is involved with the markets, too busy with real estate. I have been telling a multitude of people recently that the SPX and COMP were at 5 year highs, they were surprised but could not care less. My theory is that will change shortly when the DOW makes new all-time highs and the COMP marches towards 3000.
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