Sentiment Update – 05/02/18
Short term sentiment gauges, such as the CNN fear greed indicator and the NDR short term sentiment indicator are mid-range, at 44 and 54 respectively. This does not reveal a direction either way, and little has changed from last week. Intermediate indicators have yet to reach oversold territory. In January many sentiment indicators were as high as they had been in decades. Currently Ned Davis crowd sentiment is at 59, while the newsletter writers’ bulls/bears have improved to 19 bearish and 49 bullish. These indicators are not signaling that it’s a time to buy right now.