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Reply With QuoteThe big intraday rebound can take a lot out of the indices. It will be a good sign if they close near their highs, but they may be tired. You could see another attempt by the bears to push it down again in the last 2 hours.
Re: tsptalk's Market Talk
That's a good question.Originally Posted by WorkFE
Sentiment Readings: Cautious Investors But More Room To Rally | Investing.comThere have been a number of cautionary signs from sentiment models lately. Over the weekend, Barron's featured an interview with Neil Leeson of Ned Davis Research:
Leeson on Friday pointed to his firm’s crowd sentiment poll, which recently clocked in at “extremely optimistic” levels. Chart watchers often consider sentiment to function as a contrary indicator, one that can presage overly enthusiastic markets that are ripe to turn lower.
“This typically is not a great sign for the market going forward, at least in the near term,” Leeson said...
More specifically, Leeson singles out massive money flows into large-cap stock ETFs like the SPDR S+P 500 ETF (ARCA:SPY) and the SPDR Dow Jones Industrial Average ETF (ARCA:DIA) as a red flag. In November, all large-cap stock ETFs took in $25 billion, the most ever.
Tom
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Re: tsptalk's Market Talk
The big intraday rebound can take a lot out of the indices. It will be a good sign if they close near their highs, but they may be tired. You could see another attempt by the bears to push it down again in the last 2 hours.
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Re: tsptalk's Market Talk
The September pattern is still intact. It's not exact but you can see investors / traders can repeat actions in similar situations.
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Re: tsptalk's Market Talk
What I find interesting is the graph of the High Beta Portfolio vs the S&P 500. If traders are gung-ho on the market, they're willing to stick their necks out on higher beta stocks. The weekly graph is showing just the opposite. After peaking in late June, traders are getting more conservative, and the graph has a definite rounding top pattern. The PPO and CCI are showing declining strength as well. Sure looks like a sign of caution for the markets ahead.
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Re: tsptalk's Market Talk
Looks like we are rolling over a little bit this afternoon. Still plenty of gains on the day, but the strength is waning.
Re: tsptalk's Market Talk
And the rollover rolls into to big future losses this morning. Big gap downs looming on the horizon for today.
Re: tsptalk's Market Talk
50-day EMA was tested and held early. The gap created by the weak open then got filled. Now what?... I don't think it's going to be that easy for the bulls, but maybe by the close we'll have more.
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Re: tsptalk's Market Talk
I doubt that we will see much buying going into the weekend. Hopefully I am wrong, again.50-day EMA was tested and held early. The gap created by the weak open then got filled. Now what?... I don't think it's going to be that easy for the bulls, but maybe by the close we'll have more.
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Re: tsptalk's Market Talk
Interesting situation. Last two tests of 50-day EMA from below like today's resulted in 2 different outcomes. First one led to another push lower. The second one led to a one-day pullback and then onto new highs.
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Re: tsptalk's Market Talk
Wow, wild day. Big swings...Interesting situation. Last two tests of 50-day EMA from below like today's resulted in 2 different outcomes. First one led to another push lower. The second one led to a one-day pullback and then onto new highs.
Those are 30 to 45 S&P point moves.
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Re: tsptalk's Market Talk
As once again we sell-off into the close...
This is becoming somewhat of a concern. Is the market going to continue to drop as the dumb money continues to throw in their lot expecting a Santa rally that never comes?
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