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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?


To: ajtj99 who wrote (42058)3/19/2002 11:29:48 PM
From: bobby beara  Read Replies (1) | Respond to of 99280
 
aj, i edited that post and showed my $bpspx chart,

i have posted a $bpndx post that is similiar on this thread last fall, when most people here were saying the vix was too high, etc. =g=

the kind of puking we had in sept. was quite possible 4 year cycle puking, i've said that to bears for many months now who think i'm a lunatic.



To: ajtj99 who wrote (42058)3/20/2002 5:25:37 AM
From: Psycho-Social  Respond to of 99280
 
Jake Bernstein's indices of trader sentiment show both the S&P and Nasdaq still overbought, although the Nasdaq has mellowed a bit to mildly overbought:
S&P bullish figures: 72%/3dy ave, 69%/5dy, 71%/9dy.
Nasdaq bullish %s: 65%/3dy ave, 63%/5dy, 68%/9dy.
Nikkei continues to be overbought with an average of 80% traders bullish over the past 18 trading days!

A short term pullback is likely, but indicators with a longer focus are not where they would be if we were at an intermediate term top.