Market Timing - Advisors Sent.Bulls-52.2% Bears+22.8%
DJIA Warning! Comments lower para. Read it!
Figs.out today, 6th, c/o Investors Intelligence at 914-632-9422, NY.
Web site www.investorsintelligence.com
Quote:-
For the second week we counted fewer advisors as Bulls. They moved down to 52.2% from 53.8% last week and the recent high at 54.3% shown three and four weeks ago. Despite the almost daily record highs shown for the DJIA and other averages. The other advisors remain hesitant to become bullish.
The Bears increased for the fourth week to 22.8%. That group was 21,5% last week and 19.6% three weeks ago. That was the fewest Bears since Aug.2005. Low levels of Bears are historically negative for stocks but that is offset by the relatively low level of bullishness.
Advisors looking for a correction increased to 25.0% from 24.7%.
Copy 2007 Investors Intelligence, NY, USA.
DJIA WARNING! Am sending out this report tonight, as the DJIA has been hit and has dropped twice two days running and has taken out the 21dma for the first time since the drop to 12,242 low back in mid Apr. The 21dma today is at 13,483 and DJIA closed at 13,465 dn-129. Since this rise the DJIA has NOT once taken out the 28dma now at 13,410. today's intraday low was 13,437, just 27pts.higher. Watch tomorrow, Th.7th, if we go below the 28dma.
Math. Take note of this. The DJ low in 1982 was 576 and multiplied by the ( .618 ) power of 3, we get 0.236. Times the sq.of 10 and we get:- 576 x .236 x 100 = 13,593. Actual intraday high hit 13, 692 on June 1st. Also record close at 13,668. Is this a short term top? Is math the answer? We shall find out very soon. Hold on to your hats, it's getting wild in this casino of stocks. Just a casino! Click below for the "live" bar chart you can track each day, those moving averages, mainly the 28 day.
Charlton Capital Ltd. 618 here! Time 9.50pm, 40mins.to write this report. Any good?
http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=0&mn=5&dy=0&id=p26488284278