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Internal Indicators
December 22nd, 2008 at 5:12pm · 2 Comments
Here’s a couple of U.S. stock market indicators that appear to be in overbought territory. The ISEE call/put ratio is at 129 on a 10-day basis, a level it hasn’t seen since last may. The Tricks index is moving off of the upper Bollinger Band. There is no divergence in the Tricks, yet both indicators are saying that the upside is limited here and downside risk is increasing.
Tags: General Market Commentary · Market Internals · S&P 500 · Sentiment
2 responses so far ↓
1 deacon31 // Dec 23, 2008 at 9:25 am
solunar charts a very nice Christmas present for us, thanks and best wishes going forward!!
SPX still in the precise 100 point 819-919 range thus far, starting about the 50% mark today,we’re also near the 50% of the 741-1007 range…
pesavento yesterday still bullish if 829 can hold, for a run into a ‘turn’ date of jan 8th, stating ‘sentiment as bearish as i’ve ever seen it’… elsewhere, hearing that hedge fund selling due to redemptions will be the first two weeks of the new year
2 chris // Dec 23, 2008 at 10:34 am
That ISEE call put chart above certainly doesn’t support the “sentiment as bearish as i’ve ever seen it” idea.
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