1. The week starts as expected to the upside as last weeks correction is done and we are heading for a few very benign days around the 11th. Last week was anyway a typical 5 count minor correction and the next 2-3 weeks some markets will make minor new highs others won’t creating intermarket divergences.
This litle Greek bluff to squeeze out another 0 bil from Eu taxpayers ( actually another bailout of banks basically) has worked well but more trouble can be expected soon from many angles since the system is basically bankrupt and just gets more and more printed money patches but the ultimate fragility is getting worse by any fix.
Sentiment remains very bullish and the end of QE2 is getting very close by the day with the debt ceiling reached it looks very ugly.
|MONDAY, MAY 9, 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