ajtj99's Market Pulse

[Justa Werkenstiff]

Market: Yesterday was a perfect example of the the trend here. On any rally, short term sentiment gets extreme and we reverse.

SOX at or near buy signal. NDX oversold. Everything else (Dow, SPX and RUT) are not close to buys. Short term sentiment is overbought and does not support any major rally from this point. Longer term sentiment is topping out here but no clear change in trend yet which will bring a shift to pessimisim and a bottom of sorts.