It looks like more upside ahead. There might not be much, but I think until more bears put on a bull suit, it won't be time for C down. And there is a clean copy of the percent bears chart so you can do you own tech analysis if you wish.
Monday, September 7, 2009
Tech analysis on Percent Bears
I wish I had 150 years of data on this percent bears so it would be possible to determine if tech analysis was relevant. This chart says that the amount of bears is still a bit higher than it "ought to be" at a market top.
It looks like more upside ahead. There might not be much, but I think until more bears put on a bull suit, it won't be time for C down. And there is a clean copy of the percent bears chart so you can do you own tech analysis if you wish.
It looks like more upside ahead. There might not be much, but I think until more bears put on a bull suit, it won't be time for C down. And there is a clean copy of the percent bears chart so you can do you own tech analysis if you wish.
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I agree but see a correction first -- a real correction -- to set up more upside.
ReplyDeleteHook, what is your ES down target for the first drop then, and may I ask how chosen?
ReplyDeleteDon't have a price target but the rally in treasuries since June should top out and sentiment must be reigned in. I don't think a 5% drop will correct sentiment.
ReplyDelete