Home > Stock Market Strategy > WALL STREET CRAPS STOCK MARKET STRATEGY APRIL 23, 2017

WALL STREET CRAPS STOCK MARKET STRATEGY APRIL 23, 2017

April 23rd, 2017

craps front coverSTOCK MARKET STRATEGY FOR APRIL 23, 2017: The stock market remains in a neutral position with the ability to go in either direction. The last two weeks has presented the market with an opportunity to become “oversold” but rallied modestly instead to prevent investors and traders from getting to a low-risk entry point. Expect the market to set itself up for the next trading opportunity in the coming weeks, but right now it’s best to take a wait and see approach to this tricky news-driven market.

Key underlying short-term market indicators show the following:

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THE BOTTOM LINE: The Fear/Greed Index is currently reading “Fear” after being in the “Extreme Fear” range for only one trading day. I would expect a much deeper reading in the “Extreme Fear” range in order to safely say that the stock market is “oversold” or “under-loved” in terms of sentiment. The current geopolitical climate should serve to push sentiment strongly in one direction or the other. And most likely, it will create the desire emotion of “extreme fear” which allows presents disciplined traders with a low-risk buying opportunity. So right now it’s best to let the market set itself up for the next trading opportunity.

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