Today is Wednesday, July 14th and we have a surprising development to announce.

In a very surprising move, the Bullish Market Sentiment as conveyed by the Investment Advisory Newsletter Industry has come out with the new numbers this morning and it is a surprise, even to me.

With the market up several days in a row, showing strength and with no retracement of this recent move as of yet, the Bullish Market Sentiment has gone into Very Bullish Territory. The numbers have dropped 5% to a very bullish 32.6%. A reading of 35% or less, is a good indication that you will very soon see these newsletter writers wrong again.

With a reading like this, there is very little bullish market sentiment on Wall Street, which in turn will foster a large rally that will catch the majority off guard, running for cover. It has been established by the masses, that this market is going to go down. People are convinced of it and that is one reason why it will not happen when they think.

I wrote about this possible scenario several times and have just been waiting to report this to my readers. You always have to use caution and be prudent, but, I am telling all those who will listen, this market is going to blast off, igniting a massive short covering rally, catching the masses by surprise.

Usually, you will see the move, very soon after a signal like this, even on the day of the released market sentiment information, but, just keep in mind, we are coming off a multi day advance which could give the market a moment of pause before the move. I can not rule out a slight correction of a few days, which will likely only get the bears to jump on the short side even more. If I had to guess, I don’t think we pull back very much. That part is hard to say, but the much bigger development, is that we are going to rally. Anyone with longer term horizons, (weeks), could really clean up here with what ever you trade. Just use good judgment and always protect yourself what ever you do.

This is my own personal opinion on how things will develop over the next several weeks and is not considered investment advise, just my opinion.

I hit my daily goal plus today in 35 minutes. I took two trades out of the Nasdaq emini as well as the chart trades below in the S&P emini. It was a bit redundant, in that I traded the same direction as the S&P in both markets catching a similar market move. I liked the look of the Nasdaq trade a little better to start, but then did see the S & P trade come together and moved on that market too. It turned out good and made up for yesterdays inaction. OK, S&P chart below.

Good Trading and always be safe.   Vince.