With global stock markets on the move, investors and professionals are wondering where the markets are headed from here. KWN thought it would be a good time to pass along key indicators which help provide a clue as to the future direction based on sentiment.
Here is the latest Investors Intelligence report along with the all-important sentiment chart: “Stocks rallied further last week with more indexes ending at new closing highs. Many show new records while the NASDAQ highs are from 2000 … Indicators are bullish but also overbought with many at prior highs. The quick recovery from June’s selloff was hard to ignore and more newsletter editors turned bullish. That figure would have been even higher except for a few shifts away from that outlook from advisors who noted negative divergences with the new highs.