11 replies to this topic

[OEXCHAOS]

ISEE at 216, a 52 week high and a very rare reading. Actually the last time we got above 200 was 2013 and I'm still looking for a reading that's as high going back further. The last 3 times we've seen fairly immediate weakness. I'd say some selling is VERY likely.

 

That said, as with many of these "STRONG" Signals, it's the likelihood of a decline that's strong, not the depth of the decline.

 

Bottom line, this works well for a decline into a quick low tomorrow.

 

Mark

[fib_1618]

It's the highest reading since 5/14/2015 which was at 220.

 

Fib

[OEXCHAOS]

It's the highest reading since 5/14/2015 which was at 220.

 

Fib

 

Wow, I somehow missed that one! I was thinking it was back in 2010. In any case, the readings are rare and generally ST Bearish. I'd not be swinging for the fences, but I'd be mindful of at least some likely weakness.

 

Mark

[fib_1618]

I have a question though...I do believe the sentiment readings on WSS came in exactly at the same numbers for 3 straight weeks.

 

Has that ever happened before, and if so, what was the resolution of this "compression"??

 

Fib

[da_cheif]

I have a question though...I do believe the sentiment readings on WSS came in exactly at the same numbers for 3 straight weeks.

 

Has that ever happened before, and if so, what was resolution of this "compression"??

 

Fib

where were we and where are we now?

[SemiBizz]

Light Volume plays hell with indicators...

 

Cross checking is advised

 

Somebody said the other day we're on like the 8th consecutive Hind-end-Burger Signal...

 

I would think that they will try to push it right into next week.

 

We got a glimpse of panic today, but it was manufactured panic.

 

Somebody always knows something, but when volume is light, they can turn it right back up on 100 lot markups...

[OEXCHAOS]

I have a question though...I do believe the sentiment readings on WSS came in exactly at the same numbers for 3 straight weeks.

 

Has that ever happened before, and if so, what was the resolution of this "compression"??

 

Fib

 

Actually, it isn't three in a row, but rather two in a row and an artifact from the way Stockcharts builds their chart.

 

6/24/17 was
Weekly BULLS: 44%
Weekly BEARS: 33%

 

7/1/17 was
Weekly BULLS: 29%
Weekly BEARS: 47%

7/6/17 was
Weekly BULLS: 29%
Weekly BEARS: 47%

Stockcharts just copies over the reading from the last week for the week in progress until I report the numbers to them.

 

All that said, "doubles" have happened a few times over the past few years, but I don't think we can get a lot out of those readings. If I had to guess, though, I'd say that since we're about where we were 10 trading days ago and since we're looking at a lot of the same readings from a lot of the same indicators, we're probably feeling the same way about the market, give or take.

 

Mark

[OEXCHAOS]

Direct link to the Wall St. Sentiment Weekly Survey so you can look at this sentiment historically.

http://schrts.co/ESpVyz

 

M

[redfoliage2]

In my experience I think ISEE C/P ratio should not be faded immediately in the following day, but may be faded later when the "insiders" take profit selling their calls bought on "insiders" info.  In this case, tomorrow is the day to fade.

Edited by redfoliage2, 12 July 2017 - 11:28 AM.

[fib_1618]

Thanks Mark.

 

Fib