2 replies to this topic

[Rogerdodger]

Right now Sentimentrader looks a bit like the early part of the week of March 14, 2005
It could get much more bearish for much longer!!!
SPX is still above the 200ma (like the March low).
BUT... this week's RSI & MACD are much more like the April 2005 bottom.
So we are either near the bottom or it's just the first leg and we will see sentiment off the chart again.



NOTE: If you can't see any chart below, Stockcharts will be off line early Saturday.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&st=2005-02-01&en=2005-06-01&i=p93114179741&a=100507769&r=1739.pnghttp://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=4&dy=0&i=p27805090960&r=2376.png

Edited by Rogerdodger, 09 March 2007 - 09:48 PM.

[A-ha]

Sentiment is very tricky thing...If we are in a bear market, sentiment as well as P/C ratios can stay very bearish for long time, however it will be a strange start if we dont retrace some of the first trust move. Remember we had very high CBOE P/C for a few days after the plunge but it failed to produce a bounce. Meanwhile OEX P/C is getting up there again. Also note that each correction in this bull market is getting viciously gross. I believe very few people were able to catch this recent plunge, like predicted. I have a sneaking suspicious, if we drop further, sentiment can get interestingly bullish because all those past corrections significantly trained investors / traders and all of them had a lot in common in terms of the way they bottom....Sword catching can be quite popular in the weeks ahead.

[.Blizzard]

Take a look at NYSI, BPSPX and SPX200A...a bit different. Another leg down is due