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FEAR/GREED SENTIMENT INDEX – DECEMBER 10, 2016

December 10th, 2016

fear-and-greed-december-9Last week’s stock market strategy report said that the general market was surprisingly “oversold” and ready for an extension of the post-election rally. We certainly got that rally and more with the “Fear/Greed Sentiment Index” pushing into the “Extreme Greed” range for all 5 days. I would still expect a few days with readings over 90 before this rally has exhausted itself. But this is still no place to be going long and only the pros should consider heavy betting on the downside. If you’re inclined to trade, this may be a time to step aside and let the market zig-zag higher with non-confirmations or zig-zag lower into another short-term oversold condition. Either of these scenarios appears to be more than a week away. So stay on the sidelines and let the market set itself up for the next trading opportunity.

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