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To: JRI who wrote (34646)11/2/2000 4:03:37 PM
From: PMG  Read Replies (1) | Respond to of 42787
 
Well, we had some HOURS with extreme levels on VIX... and although I don't know any better ones we have only very poor tools for measuring sentiment.

Good point, my "denying the essence of chart analysis". I can only say, don't forget what we measure and we that we are part of the system we measure. As I said before, I think chart analysis works good enough for the small moves right now but maybe not for the bigger ones like MT/LT bottoms, trend change etc. How do you know whether the market is "confirming" support or "piercing" it? I think the only way to decide what is going on in such a case is a more fundamental analysis... and as economy is still fine it's more probable it first gets worse and then it maybe get better...

PMG

EDIT: ohh I just saw I read "deny" instead of "define" ... but newer mind anyway :-)