"But AAII net bulls hit an extreme high! That's contrarian bearish." Response:1) Smooth out the data2) Even when the smoothed data hits an extreme, market peak may not occur until months/quarters later (eg. '11, '15, '21)$SPY $QQQ pic.twitter.com/SPoPostnQU — Brian G (@alphacharts) December 18, 2023 Today’s Chart of the Day was shared by Brian G. […]
Chart of the Day – Tuesday, December 19, 2023
"It's just the Magnificent 7 driving this rally!" What a load of click-baity crap. The S&P 500 equal-weight index just cycled from a 52-week low to 52-week high in 33 days. The only time since 1957 it happened faster was in September 1982 when the average stock went on to… pic.twitter.com/u1HEHUcR5M — Jason Goepfert (@jasongoepfert) […]
Chart of the Day – Friday, December 15, 2023
The S&P posted its 7th consecutive positive wk on Dec 15. Since 1950, I see 30 streaks of +7. The S&P is up 14.6% last 7 wks. Focusing on those 20 of the 30 that were up at least 7% I have the following forward results. The 1% moves over the next 4 wks were […]
Chart of the Day – Thursday, December 14, 2023
At 44%, the percentage of stocks that are overbought in the S&P 500 $SPX is at its highest level on record The only other readings above 40% were in June 2003 and June 2020 It's not bearish… pic.twitter.com/uqo1Jptl2D — Steven Strazza (@sstrazza) December 14, 2023 Today’s Chart of the Day was shared by Steve Strazza […]
Chart of the Day – Tuesday, December 12, 2023
The VIX is hitting 47-month lows because "wE'rE iN a ReCeSsiOn". pic.twitter.com/ATDi32cVM1 — Caleb Franzen (@CalebFranzen) December 12, 2023 Today’s Chart of the Day was shared by Caleb Franzen (@CalebFranzen). The Volatility Index ($VIX) fell to a 4-year low of 12.08 today. Caleb jokes that we’re probably not in a recession if the $VIX is […]
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