The Bank of America Merrill Lynch’s July survey of fund managers was out the other day, and shows how lop-sided investor sentiment is at the moment. A net 61 percent are now overweight equities. The reading is highest since early … Continued
Options provide a reliable way to measure investor/trader sentiment. The accompanying chart uses two sources – the CBOE put-to-call ratio and the ISEE index, all equity. The former is currently flashing yellow/even red, the latter not quite so. In other … Continued
How quickly the pendulum has swung the other way. When we last discussed signals coming out of the options market, the CBOE in particular was giving out signs that equities were itching to go higher. Nearly a month ago, the … Continued
There are some interesting things happening in e-mini S&P 500 futures. First, non-commercials are now net short 121k contracts, nearly double from two weeks ago. In the intervening period, the S&P 500 index has managed to inch up, having backed … Continued
The S&P 500 acts well. Since it found support at its 150-day moving average early February, it has appreciated 12 percent – that is in four months. In the process, it now has carved out support levels at 1900, 1885 … Continued
Equities are acting confused – almost schizophrenic – not able to make up mind whether they want to move up or down. They have been on a roller-coaster ride lately. An active trader could not be asking for a better … Continued