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Thursday, January 31, 2013

Elliott Wave Update ~ 31 January 2013

Short term count:
An example of the extreme sentiment. Here is tonight's NAAIM survey via Sentiment Trader:

They had this to say about the chart:

"NAAIM polls a sample of investment managers and asks them how they're positioned in stocks - from 200% net short to 200% net long.  By being more than 100% invested either way, it means that the managers are leveraged.

That had never happened...until now."

Additionally, EWI reported 91% Daily Sentiment reading for the Euro. Things are ripe for a historic collapse which is what the ending diagonal count calls for.

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