Markets - Advisors Sentiment. Bulls dn.-47.2%. Bears up+26.4%.
Note:
DJIA crashed last Friday, falling 281pts. to close at 13,181 and p&f. has turned down again.
B&B figs.were out last week on the 1st, c/c Investors Intelligence at 914-632-9422 NY, USA.
Their web site www.investorsintelligence.com
Quote:-
The quick market retreat from highs shown on July 19th has scared the advisors and the Bulls fell back
to 47.2% from 53.9% the week before. That reading, as the DJIA were trading around 14,000, was below
their 2007 high, shown on June 8th, then the Bulls were 56.7%. The new data shown the fewest Bulls
since 46.2% Mar.2nd. The recent index highs were accompanied by very poor breath and many negative
divergences. That was not missed by the advisors and the sentiment changes reflect that.
The Bears jumped all the way up to 26.4%, from 18.0% last week. That was the fewest Bears since July
2nd 2004 when we counted 17.7%. At the time, the DJIA was at 10,282 and it fell to 9,757 ( dn-5.1% ) by
Oct., at which time the Bears had moved up to 25.5%. Very low numbers of bearish advisors are negative
so the current increase in their rank is a good sign.
Those looking for a correction dropped to 26.4%, from a yearly high at 28.1% last time.
Copy 2007 Investors Intelligence, NY, USA.
Updates:-
Market Timing. DJIA on Friday, figs.above, made a nasty p&f chart, reversed 6 sqrs. and is about to take
out the pervious intraday low of 13,041 Th.Aug.1st. Watch Mon.6th if we go below 13,000, an ungly Bear.
US Dollar got smatched, closing at 80.19 dn-0.48. Will it hold, is the question. Still negative on bar chart.
Crude Oil has backed off my target of $77, given to you when it was at $67. Looking tired but still a bull.
Gold $684+7 is acting like a drunken sailor, but has turned up and looking firm on the bar chart. The
p&f chart when up further by one sq. and now has a double top at 685 and my bet it will advance more.
Nat. Gas. $6.09 continues drifting into the bottom of the beer barrel, and nobody is cooking with N.G.
My web site is www.markets618.com
Charlton Capital Ltd. Mr.618 Questions any time by e-mail. payne618@bellsouth.net
PS. Good luck mates.
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