ajtj99's Market Pulse

[Justa Werkenstiff]

Market: Price indicators got near sells yesterday intraday and sentiment indicators got there Wednesday. So there may be a reversal underway.

However, daily trend indicators have switched to up. Daily indicators on the averages have switched back up after having been down for just one day on spx, dow and wlsh.

Sentiment closed more bearish than bullish but not frothy or extreme. This could be a sign of a reversal underway especially since short term sentiment surveys I follow are not bullish. Price indicators came very close to a sell signal yesterday during the day but pulled back to overbought on the close.

Still short a position but not enthusiastic about adding for now as possibility exists that up has not fully played out.