Markets Advisors Sentiment. Bulls up+51.7%. Bears dn-24.7%.
Figs.were out today, c/o Investors Intelligence at 914-632-9422.
Web site www.investorsintelligence.com
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Advisors showed only a small increase in their optimism with the Bulls moving up to 51.7% from 51.1% last week. This small change occurred as indexes were rallying and the DJIA was setting consecutive record highs. We had been anticipating a surge in the Bulls so this relative skepticism in the face of a rising market is a positive sign. The one thing newsletter subscribers don't forgive is missing a major market up move. Thus, the fact that the Bulls are well below their recent high reading is good for the market.
The Bears moved down to 24.7% from 26.1% last week. That is the fewest Bears since Feb.23rd just before the market broke to the downside. Prior to that, there was a twenty month low for the Bears at the end of Dec., when we counted just 19.6%. The Bears are moving in the right direction. Those looking for a correction increased to 23.6% from 22.8% a week ago. Copy 2007 Investors Intelligence, NY, USA.
DJIA marches on to more record highs and today we did it again, closing at 13,211 up+75, and so the party continues to puzzle many. Last report on this subject was Apr.26th, then the DJIA closed at 13,089and my target, intraday was 13,300. Today, we hit intraday high at 13,291, so 9 more pts.to go. then I shall report as required. Remember how the DJIA likes to rise in the first days of a new month, right?
Charlton Capital Ltd. Mr.618.