The market’s continued strength since its 8/16 intraday lows is now reflected in a mixed but positively biased overall trend picture. I wouldn’t want to underestimate the upside potential of this move at this point and for now am inclined to sell puts into any near-term downdrafts – but at the same time I’m well [...]
There’s both good news and bad to report about the major stock market indices this week. The good news is that fear and panic clearly seemed to reach some sort of a climax last Thursday as the markets fell to intraday levels representing declines of over 10% from their recent highs.
This high level of [...]
The market’s volatile up and down moves last week have left the overall trend picture still negative, but with fewer actual identifiable trends. This represents more neutral and “noisy” price action, with the possibility of swings in both directions.
The sentiment picture has improved further, with signs of at least some fear and panic during [...]
Last week was another down week for the market, confirming its negative intermediate-term trend picture. While technical and sentiment indicators are improving, and a bottom of some sort may not be far off in terms of time and/or price, it’s also best not to underestimate how far down a possible panic sell-off could further [...]
