Sentiment Is Giddy, But Small-Caps Not Getting Fair Share

posted in: Derivatives, Equities, Technicals | 0

Driven by tax-cut optimism and favorable seasonality, trader/investor sentiment is giddy, but small-caps are not getting their fair share. The latest Investors Intelligence numbers will be out later today, but as of last week, bulls have been 60 percent or … Continued

Amidst Elevated Optimism, Caution Hat Out

posted in: Economy, Equities | 0

Peak optimism? We are increasingly beginning to hear commentators/observers use that phrase in media interviews, articles as well as on social media.  Among other things, Charts 1 and 2 are probably to blame. In the latest week, Investors Intelligence bulls … Continued

Fed Giveth, Fed Taketh Away?

posted in: Credit, Economy, Equities, Technicals | 0

Seven weeks of sideways action on the S&P 500 large cap index has been resolved.  Last Friday, the index dropped 2.5 percent, for a weekly drop of 2.4 percent.  This comes on the heels of an important breakout in July. … Continued

US Equity Indices Flash Signs Of Fatigue Left And Right

That the green line in Chart 1 is increasingly taking the form of a coiled spring is non-debatable.  That the longer it stays compressed in oversold territory, the higher the odds of a spike higher is non-debatable.  What is debatable … Continued

Sharp ↑ In Investor Complacency, U.S. Stocks’ Path Of Least Resistance ↓ N/T

After a 13-session, heady rally off June 27th lows, U.S. stocks are beginning to reek of complacency.  The question is, is it now time to turn contrarian or things might stay complacent for a little while longer? Take put-to-call ratios. … Continued

Despite Massive Rally Off Feb 11th Low, Investor Sentiment Not Effusive

posted in: Derivatives, Equities | 0

The magnitude of the equity rally the past couple of months has surprised many. Off the February 11th low through Thursday’s high, the S&P 500 index rallied 15 percent. This, despite the fact that equity flows into U.S.-based funds have … Continued

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