1. Markets are within the process to confirm the top as the NQ made the 13 count and ES has it by today. Sentiment has improved to the bullish side with out being euphoric but very obviously some bet their house that QE3 will make their day wit the best start into January since 1987. We have at least a trading top and start with wave 1 down within this week. My target is the 1240-50 initially for the SPX – in order to get a big top we ned some roller coaster action within the 1220- 1320 zone.
|MONDAY, JANUARY 23, 2012|
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