Ken,
My only point is to say that the people who do this chart would say they are increasingly bullish on the market as the sentiment becomes more pessimistic. If you include it among your list, I would interpret it as bearish any time the sentiment indicator is on the optimistic side, and vice versa, as we now have. The chart is now bullish, and quite strongly so. When we get to the extremes as we are now, a market change is in the offing...not necessarily today.
Chico
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