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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: zamboz who wrote (68929)	2/11/2001 3:10:40 AM
From: Psycho-Social	Read Replies (2) \| Respond to of 99985

Nasdaq Sentiment Survey: I've noticed that various individuals who trade the Nasdaq try to gauge the sentiment of this Discussion group or adapt other broad sentiment indicators (Investors Intelligence, Consensus Inc, Market Vane, etc). While at Flexible Plan Investments, I obtained historical data on all the popular sentiment indicators and found that none of them correlated well (contrariwise) with the Nasdaq. They measure broad Market, S&P, NYSE sentiment. I also have developed my own sentiment indicators using financial media-based sentiment indicators. I keep broad Market and Nasdaq sentiment indicators separately, and find that they frequently diverge. So as a counterproposal to your statement that the DJIA needs to get hit before sentiment will collapse, I say that Nasdaq traders need to use Nasdaq sentiment indicators. Jake Bernstein's Nasdaq Daily Sentiment Index is the only one available so far as I know and the subscription is not cheap. I'm going to make a follow-up post, asking MDD participants to give their expectations re the Nasdaq for the next day and the next week ahead. If the idea catches on, perhaps we can ask the SI powers-that-be to put the survey on the SI Home Page. Nothing ventured, nothing gained.