http://stockcharts.com/def/servlet/SC.web?c=$SPX:$VIX,uu[w,a]wallyiay[pb50!f][vc60][iut!La12,26,9!Lh14,3]&pref=G
Hit an all time high of just better then 100 Friday! ALL I hear is that the ratio is useless and broken. The LESS that follow and believe, the better the chances it has merit.
RSI, relative strength of the market has made 3 lower highs in the face of 3 higher highs (NAZ INDEX). I find this as a stern warning. Difference between IIAA bulls minus bears is above 40 !
Not a single reading of 2003-2004 showed bears outnumbering bulls.
2005 is another in pattern of years ending in FIVE. ALL have been positive, though NO TA can say why. WIth bullishness at all-time highs, will this be true again?
IMHO, this is IN the market already because it has been discussed ad nauseum, and I think the bulls are FULLY committed to this rally leaving precious few left out.
D
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