Thanks JD, Re: Market Risk and the v-Wave.............
My other market risk indicator has risen from being solidly bullish at the start of the year to being centered in the neutral range. It's "oscillator" shows there is still rising pressure on market risk. If nothing changes, the oscillator says risk will push upward toward the bearish end of the spectrum.
That said, the stalling of the indexes (and possible rotation or consolidation) should show up by some of the components' risk profile falling back a bit. Just in the last three weeks the Value Line P/E ratio has dropped quite a bit.
A look at market absolute breadth shows money is in motion again. Last week saw the number of declining stocks move ahead of advancing ones. It also saw a large increase on the NASDAQ in the number of new 52 week lows. Not so much on the NYSE, however. My take on this is that the more speculative end of the stock market has profit taking going on and possibly a rise in short positions. I've not seen any news to confirm my suspicions, however.
I note that it has been an age since I updated the v-Wave histogram. I'll take on that project and will freshen it soon.
