A couple weeks back, on the day after the $SPX lost 31 points to close at a 6 week low, I posted a quick poll to get an informal read on market sentiment. My observation was that, despite the previous day’s shellacking, there was little fear in the market.
The results: Almost 2/3 of the responses came back bullish for the next 5% move.
Since then, we’ve had an almost 5% move to the downside and I am again curious.
Is the next 5% move in the $SPX higher or lower?
If you are obsessed with the cloud as an investing theme into 2012 then you will want to join the kids at GigaOM Pro for their free webinar tomorrow, June 15 at 1PM ET.
If you are obsessed with the cloud as an investing theme into 2012 then you will want to join the kids at GigaOM Pro for their free webinar tomorrow, June 15 at 1PM ET.
While the world is chock with noise, these guys are ridiculously smart and hone in on signal. As part of an all star cast, Jonathan Bryce will be a part of the panel. As some of you may know, Jonathan is a co-founder of Rackspace ($RAX) Cloud.
Register here.
I will be listening in and it should be well worth it.
On Tuesday, Steven Place wrote a must read piece on the change in character in the $VIX during this market sell off which began in early May.
Given the continued decline in equities ($SPY) teamed with the inability of the $VIX to spike or break out, I hit Steven on Skype for an update and some clarity.
You can catch Steven on the StockTwits stream @StevenPlace and also watch his excellent StockTwits Brunch program at 11AM ET Saturday mornings on StockTWits.TV.
On Yesterday’s edition of Bullhorn over at CNNMoney, Catherine and I discussed the predicament of the financial stocks ($XLF) and the hype around $SODA.
Give a watch:
Last night on Market Shrinkology I discussed the the Rorschach Inkblot Test which is a projective assessment tool used by clinical psychologists to assess cognitive functioning, reality testing and personality.
There is much that can be gleaned from the test for technical traders as there many similarities between chart reading and the inkblot test. Foremost, both demand the interpretation of ambiguous stimuli which can then be assessed.
This was a fun one to produce and I think you will enjoy:
The banks never really served a leadership role during the 2 year bull market but they always mattered.
In late April into May, few pointed to the divergence between the broader market ($SPX) and the financials ($XLF).
Nevertheless, the split which began on April 14th was a crucial tell and so I continue to watch the sector closely.
Here’s a quick poll for the StockTwits community. Is the next 5% move in the $SPY higher or lower?