CBOE equity put/call ratio has jumped to .70 and ISEE is at 109, confirming bearish sentiment. At some point, it becomes a contrarian indicator, although I have seen ISEE jump up to 200 in the middle of a correction (see mid May 06), as dip buyers show up. NQ is holding on to 1811, the line in the sand as the day progresses. ADVDEC lines have stabilized and YM is back above 12620. We will see if the bulls do their closing rally routine or continue selling. The close will tell the story.
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on Thursday, February 08, 2007 at 2/08/2007 11:51:00 AM.
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