Markets Advisors Sentiment Bulls 54.3% Bears+20.7%
Figs.were out Wed.23rd, c/o Investors Intelligence at 914-632-9422 NY.
Web site www.investorsintelligence.com
Quote:-
The Bulls were unchanged this week at 54.3% as the remaining advisors found it difficult to jump into the market after the virtually uninterrupted 10% rally from mid-Mar. lows. They had been rising slowly and last week's reading was the highest since the start of this year. Market tops often see the bullish level near 60%, so we should see more optimism before a final top.
The Bears increased this week to 28.7% after falling to a twenty-two month low at 19.6% last week. That was the fewest bears since we counted just 19.3% on Aug.5th 2005. A bearish reading below 20% is negative but it is currently offset by the relatively low number of bulls.
The Advisors looking for a correction moved down to 25.0% from 26.1% a week ago.
Copy 2007 Investors Intelligence, NY, USA.
Web Update:-
DJIA closed Friday 25th at 13,507 up+48 on the week. New record was hit 13,648 intraday and once again has reached my "next number" off my math chart at 13,600. Pt.and fig. remains bullish but I believe the DJIA is pushing it's luck and that will runout, not very soon. A close at 13,200 will be bearish so watch it.
US Dollar at 82.36 continues to climb and has hit the 50dma which is at 82.32 so a "test" to move higher will be executed this coming week. Target 83.10 remains, given to you on May 6th report, then at 81.75.
Crude at 65.20 up+1.02 Friday 25th holding well above the $64 price. On my chart of geometry lines, Crude is about to make a major move and it's looking higher but is blocked at $67. A close above $68 will take it to the next channel line at $75. No joke, it's on my chart that you don't see, just leave it to me.
Gold $655.85 up+2.55 remains on the down side and my target remains at $640, given May 10th report. The low hit $651.50 on the bar chart. Gold stocks have been hit hard, but are getting oversold so all eyes on the US Dollar when it rolls over again. Am watching 4-U.
N.G. $7.80 remains bullish, no worries. Just backed off a high at $8.40.
My web is free for now but "pay-per-view" will be forth coming. The price, have not a clue, comment please.
Charlton Capital Ltd. Mr.618 always here. Time now 10pm, one hour to write this forecast report.