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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: SE who wrote (8983)	11/24/1998 3:40:00 PM
From: Doo	Respond to of 44573

Scott: I watch a small collection of these types of indicators for contrary signals, potentially signaling intermediate term changes in market direction. The two I watch most closely are confirming the data you linked. The Puts/Calls ratio is nearing a 5 year low, indicating a turn to the downside. Similarly, investment newsletter writers are more bullish now than at any time over at least the past 5 years. The most recent five year extreme on this indicator, which was just surpassed, came in front of the now infamous "irrational exuberance" comment by AG. I personally have found newsletter writer sentiment to be the most helpful in gauging points in the market action where change of direction is most likely to occur. The balance of my work is pure price and volume movement.