Short-term sentiment was mixed this week. NDR short-term sentiment dropped a bit to 50,
A neutral ready. However the CNN Fear & Greed Index moved from 62 to 71, a negative
suggestive of too much bullishness creeping into the market.
The intermediate-term indicators were inline with last weeks gauges, which were a bit too bullish.
NDR crowd sentiment came in at 67.5%, very close to the dangerous
70% plus area. Investor’s intelligence registered at 55% bulls and 18% bears, which remains unfavorable and indicates that
There are currently too many bullish newsletter writers. Sentiment continues to keep us cautious.