Short Term Gauges Have Retreated
Short term gauges have retreated after two weeks of selling. The CNN fear greed index is at 37, down from the mid- 50’s last week. The NDR short term sentiment gauge is at the mid-50 range, down from a recent peak of 85.
While we are off the highs, the numbers haven’t entered into buy territory yet.
Intermediate indicators have come in a bit, but far less than one would have expected. Investor’s intelligence
Bulls/Bear’s came in at 47% bulls and 18% bears. This leaves the Bull/Bear spread at 29%, which is still wide and far from a buy signal.
NDR Crowd Sentiment also remained elevated at 66% bullish, far from a buy signal.