I do not think that the Nassacre can start without grave excesses in optimism as would be illustrated with very low EPC, excessive number of stocks above their short term averages and few others. Nor would a continuing rally without any major retrenchment start here when the longer term sentiments (such as advisory services, insider selling etc) are still quite in bearisn territory. So another run to bring the short term sentiment indicators to excess, is, IMTO, still the most likely scenario, and thus a "last hurrah" before the nassacre. The Nassacres of 2001, 2002, 2003 and this year, all had sub .4 EPC preceding them by few days. Maybe this is too strong of a string?
