Is Sentiment Giddy Yet? It’s Complicated.
Let’s examine some key sentiment measures.
Stocks Look Euphoric Again—and History Says a Pullback May Be Next
Bullish sentiment is surging across key indicators, and similar setups recently led to fast S&P drops. This market may be due for a shakeout.
Walmart Stock Gives Investors Something to Fret Over
Let’s talk about the chart patterns of some key stocks, including Walmart, which is starting to look like Microsoft stock from last November.
A Lower High for New Highs?
Today saw a rise in new highs on the NYSE, but there were still about 20% fewer than just two weeks ago.
The ‘Others’ Just Can’t Catch a Bid
It’s still an either/or market with money flowing into the tech leaders, but not the others.
Traders Are Complacent, But Is the Market Headed to ‘Anxiety’?
The market continues to follow the sentiment cycle chart, and it appears that we’re currently at ‘anxiety’.
Traders Remain Complacent Despite Bad Breadth
I’m still expecting the market to reach oversold levels sometime after Memorial Day.
Looking for Stocks to Reach Oversold Levels
It’s likely that they’ll get there, but probably not until next week.
On Monday, Sellers Walked Away Midday
This remains an Either/Or Market. On Monday, however, the action was marked by a drying up of selling pressure.
The Others Catch a Bid. Is That Enough to Overcome an Overbought Market?
Some of the year’s weakest stocks enjoyed a green day. But the market remains intermediate-term overbought. Will that be enough to get investors to commit new capital?