Value of Perfect Information

Hopefully, the charts below will show what today’s action was all about. I have to get to a meeting and have put my comments on the charts. I also have the key level to watch tomorrow.

To follow me on Twitter, click here: https://twitter.com/MortieES Today I left a couple tweets re: possible target levels. ES hung around the first level I mentioned (1006) for quite a while, and then later in the day, it went to the second level (1010-1011) and reversed as I thought it would. Sorry I was not also able to post on this site, but I was busy and thought some would want the to know what target levels I was seeing.

Don’t forget to sign up for upcoming newsletters at the “Join Newsletter for Exclusive Content” to receive special weekend newsletters including my own weekend update and some mid-week special reports that will be reserved for email subscribers only!

Smart/Dumb Money indicator at 38/67  Extreme Alert!  Difference more than 25

The more Dumb Money is confident in a rally, the more bearish this indicator is.
Smart/Dumb money historical perspective: Historically, difference of +/- 25% has been the threshold for extremes.

Way too bullish, with reading this low, it is a contrarian indicator with a bearish tone

[tags]Equity Put/Call Ratio[/tags]

Way too bullish, with reading this low, it is a contrarian indicator with a bearish tone

[tags]Equity Put/Call Ratio[/tags]

Way too bullish, with reading this low, it is a contrarian indicator with a bearish tone

Way too bullish, with reading this low, it is a contrarian indicator with a bearish tone

May 13, 2009   .61