Sentiment generated from the Twitter stream for the S&P 500 Index (SPX) is rolling over from below the zero line again. This usually means a sharp fall in price. The odds now favor another test of recent lows before a significant rally.
Breadth between bullish and bearish stocks on Twitter is showing a constructive pattern. During the recent rally we got a good increase in the number of bullish stocks. This indicates that buying is occurring in leading stocks. Keep an eye on this indicator (and the type of stocks in the 1 month bullish list) during this next dip. If it can hold up then I think we may be able to get a rally that makes it back to the 200 day moving average.
Related Posts
Euro Chopped Lower Before Stabilizing
Mid-December Cold Supports Natural Gas Prices
Objective And Subjective Selling Opportunities- Eurogroup Likely To Defer Decision Instead Of Deferring Greece’s Debt
Volatility In Sentiment On The Rise Too- Jump Crypto replenishes funds from $320M Wormhole hack in largest-ever DeFi ‘bailout’
Leave A Comment