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[OEXCHAOS]

I discussed the "Deer (or bull) in the headlights" scenario below in this thread:

http://www.traders-t...t=0#entry304894

but I note that this morning showed that the Bulls had dropped to 26%, which is pretty darned low. We might not have massive Bearishness, but we have a real dearth of Bullishness in this survey.

Mark

[humble1]

imho, the thing to watch now is how QUICKLY hope revives. a possible one-day-wonder (like yesterday) might just do it. btw, that rally went right into elliott 4th wave action, just what you would expect after a clear, read-it-across-the-room, five wave impulse decline off of the high, which looks to have ended friday/early-monday. so: if a choppy sideways correction revives bullishness but does not do much more for price, this scenario stays #1.