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To: marginmike who wrote (67943)2/15/2001 11:34:54 AM
From: pater tenebrarum  Respond to of 436258
 
AAII and Consensus bulls - both have seen a big reduction in the bullish consensus this week.
admittedly these polls are fickle...were they taken today, they'd probably look different.

but more importantly, the NAZ has reacted with a big rally on the heels of these data, as well as the high TRIN readings. and that means no indicator failure has occurred - therefore, the chances for the bears have diminished.

mind you, it's still possible that the sell-off into the next cycle low is a severe one...i'm just saying, whether it IS severe or not, that low must be bought.