Coolhand's Market Analysis
Sentiment Gets Bearish
by , 04-22-2012 at 09:33 AM (3014 Views)
Last week we saw a spike in bullishness on the Total Tracker, which showed stock allocations rose by more than 9% for the week. This was in addition to a near 12% jump in stock allocations the previous two weeks. That kind of bullishness is often punished, but not last week. Of course it was OPEX week and that may have been a contributing factor in favor of the bulls (along with liquidity). Sentiment has also not been uniform across some of the more notable surveys either.
Our sentiment survey for this week flipped back to a buy condition as bullish sentiment dropped from almost 62% to only 40%. But the charts indicate that bearish sentiment is only short term as total stock allocations remain relatively high. Here's the charts:
Not much change for the Top 50.
The herd dropped their total stock allocation by less than 3.5% going into the new week and now sport a total stock allocation of 58.54%.
The Seven Sentinels continue to remain in an intermediate term sell condition.
Go to Profile
Mark as Read
