Thursday, July 22, 2010
This chart shows the higher probability of the market going higher in the intermediate term as VIX, obviously looks poised to go lower based on these indicators. The question is 'When does that market rise start'? I had thought perhaps today might be the beginning of that, but it turned out not to be the case. Short term the markets trend is hard to read right now. Sentiment is neutral, P/C ratios are slightly bearish.
One service I subscribe to is Clickcharts, and here are two of their proprietary oscillators (the top two) and their verdict:
Short term, at least, Bearish.