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 […]
Sentiment for the S&P 500 Index (SPX) on the Twitter stream broke its triangle pattern to the upside. This suggests that this rally has more steam in it. Keep an eye on the confirming uptrend line from 7 day momentum. If it is broken then some consolidation will likely occur. Unfortunately, traders are tweeting 2300 on […]
Over the past several weeks, sentiment for the S&P 500 Index (SPX) has been slowly deteriorating as the market traded sideways to down. This week the market turned back up, and with it sentiment. This has painted a triangle pattern in 7 day momentum. When this occurs it creates an inflection point where the market picks […]
Traders are still only looking up to about 2300 on the S&P 500 Index (SPX). There is little fear for prices below the market. You can use the menu above to see the most bullish and bearish stock lists. Have a good holiday week!
Posts from now through the holidays will be light… too much fun to be had, but we’ll try to at least update the support and resistance chart for the S&P 500 Index (SPX). Right now there is strong resistance at 2300. A cluster of support lies between 2240 and 2250. Below that is 2200. You […]
Last week, we mentioned that we were finally seeing hope for higher prices in the S&P 500 Index (SPX) with tweets calling for 2220 and 2250. This past week the market blew right through both price targets and now traders are starting to call for 2300 as the next stop. As the market pushes higher, […]
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 […]
Last week, I mentioned that the bulls still had a normal volume and intensity of tweets, but that the bears got extremely vocal. This week, I’m seeing a mirror image where the bears are still quite vocal, but the bulls are on a rampage. The net result, is fairly muted daily prints in sentiment readings […]