2. Sentiment has been corrected down from very bullish to moderate levels but not in anything which can be considered being bearish yet as we have entered wave 4 up now its crucial short term in SPX terms not to close above 1294 the low of wave 1. We can expect the current upleg to fade away very fast and wave 5 down to start within 24h. More on that as we discuss charts later today it will be interesting to see how the Bernanke banks can buy back their own stocks trick works out as it was one of the main drivers Friday.
|MONDAY, MARCH 21, 2011|
INVESTOR SENTIMENT READINGS
High bullish readings in the Consensus stock index or in the Market Vane stock index usually are signs of Market tops; low ones, market bottoms.
FC Market Sentiment is a proprietary indicator derived from actionable sell-side trade ideas sent by the sell-side to their buy-side clients over the First Coverage platform. Over 1,000 institutional sales people at more than 250 firms participate on the First Coverage platform and have contributed hundreds of thousands of ideas since inception. Each Idea is associated with a ticker or sector and is tagged bullish or bearish by the creator. This data is aggregated at the sector, industry and market level. The FC Market Sentiment score ranges from 0-100 (0=most bearish, 50=neutral, and 100=most bullish) and represents a completely objective, real-time view into what advice the sell-side is providing to their buy-side clients
Citigroup Panic/Euphoria Model