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Sept 16th, 2010: Update 3 – Mid-Day – Bullish Extreme Warning!!!

Posted by pugsma on September 16, 2010

12:10 pm EST:  The American Associate of Individual Investors (AAII) Sentiment Survey is out for Thursday Sept. 16th.  Bullishness has hit an extreme at 50.89%.  This is higher than at the April 2010 top of 1220.  Proceed with extreme caution on long positions, as a significant pull-back for wave (2) should begin very soon.  My wave (2) targets are the 1084 to 1094 area on the SP-500. The Russel-2000 Small Cap issues are already correcting, down over -1.2% today.

Sentiment Survey Past Results

Reported Date Bullish Neutral Bearish
September 16: 50.89% 24.85% 24.26%
September 9: 43.87% 24.52% 31.61%
September 2: 30.80% 27.00% 42.21%
August 26: 20.74% 29.79% 49.47%
August 19: 30.11% 27.42% 42.47%
August 12: 39.76% 30.12% 30.12%
August 5: 30.39% 31.37% 38.24%
July 29: 40.00% 26.67% 33.33%
July 23: 32.16% 22.81% 45.03%
July 15: 39.37% 22.83% 37.80%
July 8: 20.94% 21.99% 57.07%
July 1: 24.68% 33.33% 41.99%
June 24: 34.46% 33.11% 32.43%
June 17: 42.45% 26.89% 30.66%
June 10: 34.48% 22.41% 43.10%
June 3: 37.09% 22.07% 40.85%
May 27: 29.82% 19.30% 50.88%
May 20: 41.30% 25.00% 33.70%
May 13: 36.60% 26.80% 36.60%
May 6: 39.13% 32.30% 28.57%
April 29: 41.36% 30.00% 28.64%
April 22: 38.12% 27.62% 34.25%

 

SP-500 5-min chart (1:00 pm):

SP-500 15-min chart (1:00 pm):

SP-500 60-min chart (1:00 pm):

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