Since 1997 each time the 3 Week Average of Bearish Sentiment as tracked by Investors Intelligence has risen above the 35% level (points A) a bottom has occurred shortly thereafter in the S&P 500 followed by a substantial rally (points C to D) ranging from 20% to 54%. The last time the 3 Week Average of Bearish Sentiment rose above 35% was in the Summer of 2006 (point B) which was then followed by a 27% rally in the S&P 500 as it eventually rose back to its previous all time high (points E to F). Currently the 3 Week Average of Bearish Sentiment has ri[...]
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[Source: The Money Blogs]
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