Market Timing - Advisors Sentiment Bulls-53.3% Bears-18.9%.
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DJIA bar chart is at the bottom line on the page for your shifty eyes.
B&B figs out Wed. 20th c/o Investors Intelligence-0.22ence at 914-632-9422.
Web site at www.investorsintelligence.com
Quote:-
The Bullish advisors contracted to 53.3%, after reaching a 2007 high last week at 56.7%. Much of that drop was in reaction to the three-day market tumble from June 5-7th. The Bulls are still quick to pull in their horns on any sign of trouble and this was caused with the current data. Keep in mind, there is a lag with these figs.as the advisors comple and transmit their newsletters. These readings don't take into account the market rebound that occurred last week.
The Bears were the big, bad, news this week. Their number fell to 18.8%, from 21.1%, and that is the lowest level since July 2nd 2004 reading at just 17.7%. The DJIA closed at 10,282 that week and fell to 9,757 ( -5.1% ), by Oct. By then, the bearishness had increased to 25.5%. Very low numbers of bearish advisors are negative.
Advisors calling for a correction jumped up to 27.8% from 22.2% last week.
Copy 2007 Investors Intelligence, NY, USA.
DJIA continues to tease at the "top" of the pt.& fig.pattern and it need only drop to 13,250 and that will give a SELL. Friday June 22nd, longest day of the year, the index closed at 13,360 dn-185 and hit an intraday low at 13,359, need only to drop a further 109 to give the p&t chart a SELL. Get ready.
US Dollar at 82.35 dn-0.35 after backing off a high a wk.ago at 83.27. My target high was 83, off 81.
Gold 657.0 up+2.8 is still heading lower and hit $647. My target low was $640, off the high $700.
Crude Oil $69.14 has hit my target of $69 and is now overbought S.T. so will stay here for a while. Any back off has strong support at the break out at $67.50. Chart, p&f had a breakout & bullish.
N.G. $6.47 dn-0.22 and looks weak breaking below the last two lows at $7.60. Lower, target $6.77. The drop in N.G.has been fast and swift moving against the rise in Crude Oil, so watch the charts.
Warning! If you can't read charts or think spiders are drawing them. forget this business.
Charlton Capital Ltd. Mr.618. Any questions?
http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=1&mn=1&dy=0&id=p07594825791