FACE THE BARRONS WASTE:

Barron's has reduced the size of its weekly paper (its presses print the newly reduced WSJ), has rearranged the deck chairs inits Market Lab, and eliminated the Master Indicator - the Citi Panic/Euphoria Index, which rarely surfaced above the Panic line. So this Indicator will probably go away, although I have an e-mail in to them, and have checked Citi's and Smith Barney's websites to no avail. Although flawed, its recent high reading did foretell the recent selloff.
Breadth-wise, the McClellan Oscillator is down near that -50 support normal area, which bodes for at least a halt in the decline, although many other Indicators are coming down off overbought readings, including the Summation Index, the Bullish percent, and newsletter surveys. The AAII, however, widened its spread of Bull/Bears, with the Bears at 29%, well off the 40s recent levels.
Here are the numbers:

Mktsentiment. 1/05/2007......5Yr.HI........ LOW

DJIA ………. 12398...........12463...........7286
Nasdaq………. 2434............2460............1114
S&P500…….. 1409............1427............776
CBOE Equity put/call . 56.............87-5/04........46-1/03

VIX ………. 12.14.........44 9/02........10.3-7/05

ISEE-call/put ……. 150...........299-12/04.......82-4/02
(>200/Bearish)

McClel Osc.(+75/-100)……-48...............91-5/04.........(81)-5/04
McClelSum.(+750/-1153nh) 782...........1568-6/03.......(726)-5/04

Newsletter Surveys:
Inv.Intel -Bull:…..…. ..55.3...........62.9-12/04......35-6/06
Bear:………… 21.3.........38.2-3/03.......16-6/03

AAII-Bull/Bear ……. 49/29.....n/a n/a
MarketVane Bulls…. 69......... 73..............24

Barron's Panic/
Euphoric Master Idx…. na........-0.24 4/06.....-0.75 11/05

Bullish%- ………73...............88 -2/04...... 46-8/04

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FACE THE BARRONS WASTE: