GPT near the bottom are healthy, they indicate the required changed in psychology (and we got them after the 24th of July), when they persists after a 20% move (from 7500 to around 9000 here on the Dow), they do indicate excess of optimism, but not necessarily a major turn down. To indicate a break in the positive psychology, we will need to see few GNT (lower than bottom GNT, like -850 on Naz and -1050 on the NYSE), that could indicate the possible start of a new major bear move.
Zeev
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