Sentiment
Last week had the lowest reading of bearish advisors since late December, when everyone was telling you there would be a Januray follow-through. Bullish sentiment in the face of deteriorating technicals is a red flag. We could rally further, especially if oil drops, but I'm not sure any bounce will have lasting power. Bulls have the ball, let's see if they fumble again. This chart tells it all (courtesy of www.vtoreport.com):
This entry was posted
on Tuesday, July 05, 2005 at 1:50 PM.
