A funny thing happened on the journey through this week’s sentiment analysis. First, the Semi sector, which as I recall we were among the few to be publicly bullish on, has shot to the top of the list of over bullish sectors. Funny how markets work, where most participants seem to need the confirmation of price momentum in order to get bullish. The herd is always the herd, folks.
Another sector surprised me in the opposite direction. It has my full attention.
Aside from sentiment, which was just one component of the report, #405 does a good job of preparing us for FOMC week across all markets and indicators. I feel that it helped me personally once again to feel in control (to the degree one can in the modern
casino financial market).