Last week, sector sentiment from the Twitter stream gave a warning. It is showing an overbought condition where every sector has positive sentiment. When this has occurred in the past, it has almost always been followed by a short term top within a few days. At Downside Hedge I highlighted another indicator that has a […]
This past week saw traders buying the dip (well if you can call it a dip). If you look at the count of bullish stocks on the Twitter stream you can see that traders were buying more stocks as the market reacted to resistance near the 2300 level on the S&P 500 Index (SPX). This […]
A few weeks ago sentiment for the S&P 500 index (SPX) calculated from the twitter stream broke out higher from a triangle pattern. I mentioned that this usually indicates higher prices ahead. It took some time, but the market finally responded. Now we’re watching the confirming uptrend in sentiment. If it breaks expect a larger […]
Over the past three weeks (since the US election) we’ve observed a major rotation from safety into leading sectors by watching the bullish and bearish lists. Take a look at the bullish stocks on Twitter over the past 3 weeks and you’ll notice financials, consumer products, retail, and energy dominating the list. Now lets look at the list of […]
Sector sentiment from the Twitter stream is signalling that a short term top is near. In the past, we have almost always had a short term top within a few days when all sectors had positive sentiment. On the few instances that a top didn’t occur, the next week had all positive sectors again… then […]
Although Twitter sector sentiment predicted a short term top in the market last week, there are some encouraging signs popping up this week. First is breadth between the most bullish and bearish stocks on the Twitter stream. It is finally showing some positive momentum. The number of bullish stocks started to increase as soon as the […]
I’m seeing strong signs from the Twitter stream this week that everyone is simply waiting for something to happen. But sector sentiment is showing an overbought condition with every sector printing positive sentiment readings. Almost every time this happens it marks a short term top. The few times this indicator has failed, the market rallied […]
This week finally saw a bit of optimism on the Twitter stream for the S&P 500 Index (SPX). However, the overall response was fairly tepid. First let’s look at breadth calculated between bullish and bearish stocks. The market had a strong move in price last week, but breadth traded sideways. The number of bullish stocks […]
During the strong rally out of the February lows, 7 day momentum and sentiment for the S&P 500 Index (SPX) generated from the Twitter stream only had one minor move above zero. Daily prints for Twitter sentiment continue with a pattern of prints mostly below zero. That pattern has been in place since July 2015. […]
We’re still waiting to see if the market is going to roll over at trend or have a strong break to the upside. Twitter sentiment for the S&P 500 Index (SPX) had a small break of its tight range last week, but then quickly recovered. It’s bumping up against the zero level again just as […]