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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: OX who wrote (25501)	7/26/2001 2:01:15 PM
From: Bwe	Respond to of 34816

Two similar interpretations of this weeks IIA reading from Bill Meehan and from II's own daily update: "While it's certainly possible that holding the July 11 lows marked a significant bottom, I don't see it that way. I'm troubled by the continued lack of bearishness in the Investor's Intelligence numbers, which showed bulls declining and bears increasing by less than 1 percentage point. It's very hard to believe that a meaningful bottom will be made without more fear." (BM) "Sentiment readings a week ago showed the Bulls at 52.5% and the Bears at 23.2%. Comparable readings were last seen 7/24/98 with Bulls at 54.3% and Bears 23.3% and this was followed by Drop in the Dow from 9337 to 7640 in just 7 weeks. At the low the readings were 37.3% Bulls and 46.6% Bears." (II)