2007-2-27 2006-11-1 It is unbelievable how negative the current sentiment is on wall street. Traders, investors, and the public alike are all bearish on the stock market. The Investor's Intelligence survey reported an equal number of bears and bulls last week! This is very rare and most often a powerful rally emerges with such pessimism. We also mentioned the bearish percent in the AAII survey last week. With the current sentiment being so dark, we believe that a powerful rally will soon occur, most likely starting this week. The first chart is of the NASDAQ Composite. You can notice how the index has recently run against its downtrend line from the beginning of May. We have also noted the horizontal resistance at the 2150 level. A sustained break of both of these resistance areas will suggest that the powerful rally has started. The second chart is of the NASDAQ 100. You can see how this index has already broken above its downtrend line, possibly foreshadowing the NASDAQ's coming move. We have also noted the horizontal resistance that when broken will confirm that the rally is underway. The third chart is of SMH. The Semiconductor ETF 141948 text/html http://www.nasdaqwizard.com/MidPics/mid062606.html 1.0 EN index,follow It is unbelievable how negative the current sentiment is on wall street. text