With its position well below the ‘205 parameter’, I am not trying to look for positives because that was below our tolerance to begin with. When the Ukraine hype failed as expected our targets were 220, 210 and finally 205 respectively to keep things in order. They are all history.
A brief update on the headline US markets, namely the Dow, S&P 500 and Nasdaq 100.
Beginning with the latter, we note that Mark Hulbert’s Nasdaq newsletter writer sentiment data shows a very bearish sentiment profile, which is contrarian bullish.