May 30, 2017

Are You Ready for a Pullback? A Few Interesting Statistics That Say, Yes.

It was an amazing day in the market if you are a bear. Not because the decline was anything to write home about, but because the latest daily trend was broken. The trend - open lower, close higher. Today's price action  - open higher, close lower. Of course, we will need some bearish confirmation over the next several trading days, but I think with the current amount of lopsided bearish indicators in the market the probability of a continued mover is high. Almost every indicator I follow is now in a bearish state and there are more notable bearish stats from sentiment analyst Jason Goepfert to add to the list The first is the  Fear Barometer from Credit Suisse.  According to Mr. Goepfert the barometer has nearly set a record, … [Read more...]