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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (10293)10/15/2008 9:29:00 AM
From: Elroy  Read Replies (1) | Respond to of 33421
 
Not really a big fan of sentiment as a market timing tool, but I do keep an eye on extreme readings.

Any idea what was the sentiment reading on October 1st? I'll bet it was pretty bullish (pretty negative), and then the market had their worst week ever. Sentiment has got to be a real time correlated indicator. As long as the markets fall, it will get worse, then when markets head up it will get better. How to use that to predict anything I have no idea.



To: Terry Whitman who wrote (10293)10/15/2008 10:10:12 AM
From: nspolar  Read Replies (1) | Respond to of 33421
 
I think the sentiment could be 'right on'.

I recently showed the weekly AAII sentiment chart from Dpoint. Only one point on that chart that was lower, and that occurred in the late 90's. Following that the SPX walked more or less continuously up to the '00 top (a factor of 5 higher).

I think we are in a 4th wave correction here and maybe a ivth of 3. If so it would soon be buy time. Still focused on mid Dec.


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