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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (184588)	6/12/2010 1:15:47 PM
From: Shack	Read Replies (1) \| Respond to of 209892

I agree with that things were overly bullish at the top. Short interest on most issues hit multi-year lows at that top most have not seen big upticks in S/I since. All I'm saying is that right here right now things may have gotten a little too bearish based strictly in the ISEE. I should qualify my last post in that I HAVE seen ISEE readings like this once before, at that was March 2008 which correlated with a multiweek slow rally before the next shoe dropped. The trump card for me of course is that charts are now technically weak with most indices below their 200-day MA and weekly trendlines having been given up. My best guess is we meander higher for a little while, but I still believe the March 2009 bull wave is over and we have slipped into jello or into down. If we recover some key levels I'll examine some bullish alternates.