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.
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.
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.
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.