Just prior to current bear bottom, end of 2009 BPSPX fell to 2%, basically saying 98% of action was bearish or every bear in the pool......time to buy or near time to buy...and it was.Going into 2000, weekly high was near 80.00 and that also fortold of a high coming, and it was.
2009 high of 88.00 was not a high for stocks. we're currently at 86.00% But we have corrected the over bearish sentiment.....and are MUCH closer to peak here......just one tool of many.
Big deal State of Union speach tonight, no selloff.....FED tomorrow....yawn......comeupins overdue and on tap IMHO
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