So many sentiment gauges have not only been ringing bells, they have taken sledge hammers to them and cracked them. Investors Intelligence, the spiking AAII, the all-in short volatility trade, epic levels of brand new discount brokerage (i.e. retail) accounts and on and on it goes. So that is this post’s caveat; sentiment has come to bull ending levels.
But with sentiment those levels are conditions, not directives. In the event this is not the end of the bull or is a prelude to a new bear’s first bounce, this (from Sentimentrader)…
The little hiccup in the stock market was starting to fix sentiment on a short-term basis, even before this morning’s sea of red in pre-market. All the more reason I’d like to short strategic areas only and if applicable, wait for setups on the entire pig.
FWIW…
Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.
