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Strategies & Market Trends : Technical Analysis With Charts

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From: MACD X2/26/2007 9:27:34 PM
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The crowd continues to be bearish

Last thursday the the semiconductor sector broke out of a long term triangle which should have been a bullish event, but what does the market do today, the first down day sense then?

stockcharts.com

They get bearish and buy twice as many puts than calls,

finance.yahoo.com

Where are all the bulls everyone keeps talking about? The sentiment survey are all saying the bullish percentage are at very high levels,

Sure isnt showing up on the options front. There are 2 to 1 more bears volume wise today. And more bears open interest wise also.

From a contrarian stand point this is bullish and the semi sector should continue up from here until on of the groups goes hog wild again in the other direction.
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