Were AAII & II right? [w/ edit]

Two extreme sentiment indicators said ‘rally’ [edit] Okay man who stares at chart, make a post in pre-market and see the thing reverse at open. NQ chart below is still above the dashed (tentative) support line and should hold that to keep the theme in play. NFTRH 702 reviewed the bearish weekly charts of the main US stock market indexes. It’s not that I wanted … Continue reading Were AAII & II right? [w/ edit]

NFTRH+; With AAII & II sentiment in the dumps…

Considering the flat out epic over-bearish AAII sentiment reading and the nearly as extreme Investors Intelligence, I decided yesterday to give this chart from NFTRH 702’s Market Sentiment segment a nod by adding QQQ. Of course, it’s just a man staring at a chart and imagining a bullish pattern. But the market is so psychologically intense that I find myself not at all sure that … Continue reading NFTRH+; With AAII & II sentiment in the dumps…

Nasdaq 100 positive divergence

Man stares at NDX chart, sees RSI/MACD divergence It’s far from the most important news in the world, even financial market news. Indeed, NDX has a case for an eventual move lower that we are watching. But this case right here argues something more short-term positive. However, as yet NDX has not even taken back even the shortest-term uptrend at the EMA 20. The divergence … Continue reading Nasdaq 100 positive divergence

NFTRH+; one important downside gap filled…

In case you’ve not watched the Trade Log, I sold 3X Tech short ETF SQQQ in part because I don’t want to be greedy, in part because it all just seems too obvious to be overly bearish, and in part because NDX has filled a nagging gap from last May. There is another gap (at 12910) a little lower, however. It would be nice to … Continue reading NFTRH+; one important downside gap filled…

NFTRH+; if you would short…

The title of the update references ‘if’ you would short, because even if the market is going bearish, cash is position. Working against the short/bearish view is contrary bullish sentiment (over-bearish), the fact that an alarming news event is driving some of it and the simple fact that historically at least (last 3 instances), stocks don’t top into real bear markets until many months after … Continue reading NFTRH+; if you would short…

Semiconductor sector leadership updated

The Semiconductor sector appears to be re-taking leadership The broad Semiconductor sector is hinting to take back its leadership over big Tech and possibly the broad SPX as well on the daily chart view. While a look inside the sector’s internals shows that two premier Semi Equipment companies, Applied Materials and Lam Research are constructive and not yet actionable with respect to leadership by companies … Continue reading Semiconductor sector leadership updated

NFTRH+; Today’s market

Quick pics and brief comments. SPX recovers to near an all-time high after a sentiment micro-twitch, NDX ticks a new high and SOX recovers above the SMA 50, regardless of its internal divergences (e.g. Semi Equipment). The world is bouncing. Since this is occurring above the rising SMA 200 it is still technically intact, unattractive pattern notwithstanding. Commodities (DBC) are bouncing but still potentially in … Continue reading NFTRH+; Today’s market