Misc Observations

By | June 22, 2015

Here’s a few things I find interesting about the current market. First, the Nasdaq 100 (NDX or QQQ) made a significant short term low about three months ago. Since that time it has retraced that low back to new highs with Twitter momentum confirming the move.

150622qqq

Over that same time period the stocks that were the most bullish on Twitter come mostly from Health Care, Technology, and Finance. You can see the full list here.

150622bullish3m

Twitter (TWTR) continues its downtrend, but sentiment and momentum from the Twitter stream for the stock isn’t even dipping below zero, let alone getting to oversold levels. I suspect TWTR 7 day momentum will need to dip below zero before the lows are in.

150622twtr

Silver (SLV) is an example of an ETF that shows a wash out in sentiment that is now turning back up. This increases the likelihood of a short term rally.

150622slv

facebooktwittergoogle_plusredditpinterestlinkedinmail
Add Comment Register



Leave a Reply

Your email address will not be published. Required fields are marked *

*

* Copy This Password *

* Type Or Paste Password Here *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>