Markets - Advisors Sentiment. Bulls up+52.3%. Bears dn-19.3%.
Note:
DJIA closed at 13,716 dn-226, Naz. 2,639 dn-50, S&P500 dn-30.
Closing "news" on the mkt.drop today, is blamed on the housing situation after the markets
closed and that is the "news'. The dropping housing situation will continue for two more years.
That is NOT why the markets were down today.
B&B figs.were out last week, the 18th, c/o Investors Intelligence at 914-632-9422 NY.
Web site at www.investorsintelligence.com
Quote:-
The Bulls moved up to 52.3%, up from 49.5% last week and 49.4% from the week before. More new
highs for the DJIA and people are still not breaking down the doors to turn bullish!
This continues to be a good sign. The recent high for the Bulls was 56.7%, five weeks ago.
The 56.7% was the highest reading since the 58.8% that we saw Dec.15th 2006.
The most recent low for the Bulls was the 45.5% we saw on Mar.9th this year. The Dow was 12,276
then, and we are almost at 14,000 now. The Mar.reading was the lowest level since the 43.2% that
we saw on Sept.1st 2006. The Dow was 11,392 then, so we are up over 2,200 points from that low.
The Bears slipped back to 19.3% from 21.3% last week. They were 18.0% the week before. This
18.0% reading was the lowest reading for them since the 17.7% reading from July 2nd 2004.
People looking for a correction dropped to 28.4% from 29.2% last week and 32.6% the week before.
Copy 2007 Investors Intelligence, NY, USA.
Updates:-
DJIA mentioned above, reversed down 4 sqrs today from 13,900 to 13,750. I told you there was a
major resistance at the 13,900 level and the p&t could be rolling over but remains bullish so far.
Crude Oil $74.78 dn-0.11 hit a high two days ago at $76.39 and my target given to you many weeks
ago at $77.00. The pt.& fig.chart is over extended. I sold my "OIL"
N.G. $6.09 has got smashed the last five weeks off a high $8.22. It is oversold. I bought "UNG", ETF,
Gold $683 remains bullish on the charts. Hold on......has GG etc done you well?
US Dollar 80.13 dn-0.24 hit a low today at 80.02. My target was 80 many weeks ago when it was 83.
My web site is www.markets618.com
Updated many days later than the E-mail Group.
Charlton Capital Ltd. Mr.618
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