The S&P 500 Index (SPX) held the level everyone was watching and tweeting at 2400. Then it cleared the Twitter resistance level at 2450. Now, traders are tweeting 2500 as the next stop. Not only did SPX hold above support, it held above its uptrending sentiment line. This indicates we should continue to rally […]
It’s make or break time for the market. Sentiment for the S&P 500 Index (SPX) is sitting right on top of its confirming uptrend line. A clear break of this line would indicate that the bulls are retreating and the bears have gained control. It would most likely result in SPX falling below 2400. Support […]
We’ve had another week where the Nasdaq 100 (NDX) was volatile and suffered a bit of damage, but sentiment for the S&P 500 Index (SPX) is still holding up. As long as 7 day momentum stays above it’s current trend line the market should continue to advance. A lot of people are looking up […]
Even with Friday’s ugly market action, investors and traders on Twitter remain bullish. The daily sentiment and momentum indicator for the S&P 500 Index (SPX) had a positive print on Friday. Seven day momentum remains in an uptrend and it’s likely the market will as long as that uptrend is intact. 2450 on SPX is […]
Last week, we were looking for a break higher in 7 day momentum and sentiment to signal a resumption of the rally. We got that break and the S&P 500 Index (SPX) finally made a clear move above 2400. Unfortunately, most of the bullishness was observation of new highs and not excitement for even higher […]
I’m busy this weekend, but here are some updated charts with a conclusion to follow. The S&P 500 Index (SPX) is in a well defined range of 2300 to 2400 with minor support at the last lows near 2320. 7 day momentum and sentiment from Twitter for SPX is in a clear short […]
On Friday, the S&P 500 Index (SPX) made it back to challenge 2400, but the number of bullish stocks on the Twitter stream is diverging from price. This indicates that traders are buying fewer stocks as the market pushes higher. Other signs of sentiment from Twitter suggest that SPX should move above 2400, but won’t […]
Even with last Thursday’s drop in price, sentiment for the S&P 500 Index (SPX) is still showing healthy signs. Take a look at price targets tweeted by traders on Twitter. Notice that the first time SPX dipped near 2320 traders were tweeting price targets as low as 2200. On the current decline, traders aren’t so […]
I’m seeing some positive signs this week from stock market sentiment on Twitter. First, 7 day momentum and sentiment for the S&P 500 Index (SPX) has broken its downtrend line. This often results in price moving higher because sentiment has turned bullish. Price is trying to move higher, but isn’t quite there yet. As long […]
We’re seeing some signs warning that sentiment for the S&P 500 Index (SPX) gleaned from Twitter is at a make or break point. The thing that is most concerning is that price is so close to an all time high as sentiment is deteriorating toward bearish levels. First let’s look at 7 day momentum and sentiment. […]