Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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To: GROUND ZERO™ who wrote (22780)	8/4/2011 6:26:53 AM
From: Gary105	1 Recommendation Read Replies (2) of 220191

Upon reflecting overnight, I think that market is oversold short term. I just checked aaii.com for investor sentiment (a good contrary indicator - in this case a bullish indicator) - only 27% bulls vs 50% bears (remainder is neutral). I think we may have a pop relatively soon but it will require a catalyst (QE3 or good employment report). The next few days are crucial as we are near 200 d MA on most market averages. A pop very soon would be bullish for the markets. If we drop below 200 d MAs and continue lower, then we can always expect reflex pop to test 200 d MAs. But I believe your buy/sell indicator is the best thus far!

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