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To: Kirk © who wrote (2612)	12/29/1998 6:04:00 PM
From: marc ultra	Read Replies (1) \| Respond to of 15132

kirk,re <<<<<< actually charted the data of S&P500 and Sentiment vs date using the data here suite101.com and found that it looked like a sine wave function with sentiment and Price locked together until just recently where sentiment leveled off and price continues to go up. IMPRESSIVE correlation. >>>>> I wouldn't make much of the correlation since a big part of the survey consists of technicians who are just following what the market is doing so eg. bullish sentiment going up often is just saying the market was going up in recent days and vice versa. I think the place where sentiment can switch and become a leading contrary indicator is of course at sentiment extremes where supposedly you can make assumptions as to how much money is or isn't available to flow into equities. Marc