Here's what the easing of bearishness means for the overall market and a look at one sector where all of a sudden there isn't a bear to be found.
Let's take a trip to the sentiment indicators I use and the parameters I look for to assess the market.
There is a good reason, if estimates are close, to believe that consumer-level inflation has peaked or is peaking.
I had actually worried a bit that Arm was going to take Jensen Huang's eye off of the ball. That worry can now be put to bed.
Remember, the little guy is almost always wrong. When they yank money out of equities you should be doing the opposite.
The put/call ratio confirms my sense of how folks are viewing this two-day bounce.
Interesting that I've not seen a single sell-side analyst upgrade, downgrade or reiterate anything. No changes made to price targets either.
Picking a bottom is nearly impossible, but if one does not start layering in where the mud gets deep, then one ends up a bit light when the train leaves.
The longer the Nasdaq remains below the 200-day line, the easier it becomes for risk managers to compel portfolio managers to reduce exposure.
The outright removal of potential liquidity from the economy earlier than expected scares the living heck out of everyone who understands.