wednesday brainstorming

1. We are clearly in a bottom building process but we still need that final blow out capitulation low for the SPX. Sentiment is really bearish now confirming the situation. Right now they try to pull some manipulations for the expiration Friday. Right after we are poised to test the lows again – before a test of the 1184 level SPX is the max upside for now before we should drop to 1100 again.

Nasdaq again outperforms with Apple heading for another test of the 400 level as the Iphone 5 is about to be introduced within the next 1-2 weeks at least we will get some details leaked – if the one version is true that the new one has not a bigger screen and still 512 RAM I rather say the coolness factor will fade quickly although it will be a big seller in China for now who are still buying anything with a brand on it from Porsche to LVMH but the numbers for 2012 may get some problems as Nokia will comeback with Mango strong I assume and HPs 99 FDollar tablets will disturb quite a bit the IPAD sales. That will be an important factor for the overall market going forward – when Apple can break above 400 on a weekly basis we will go to 450 as the stock is not expensive.

excerpt

Date Published Percent Bullish Percent Bearish
09/14 35.5 40.9
09/07 38.7 37.6
08/31 40.9 36.6
08/24 40.9 33.3
08/17 46.2 23.7
08/10 47.3 23.7
08/03 46.3 24.7
07/27 49.5 21.5
07/20 46.2 21.5
07/13 44.1 22.6
07/06 40.9 24.7
06/29 39.8 26.9
06/22 37.6 28
06/15 37 26
06/08 40.9 22.6
06/01 45.2 20.4
05/25 43 19.4
05/18 45.6 19.6
05/11 51.1 18.5
05/04 54.9 16.5
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~ by behindthematrix on September 14, 2011.

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