The market looks poised to trade higher. The ratio supports this view:
Note that with all the upside in the s&p recently, the ratio did not make a significant "bullish spike".
Nevertheless, I expect a choppy up move and a correction in the coming days. I think another rally will start after this correction but this will probably be the last rally of this intermediate-term leg up. I will update on this view as the picture becomes clearer.
2 comments:
Bit of buoyancy here. But still not sure where it is going.
true. it is just floating arround. NFP report is usually a trend changer/setter even if only for the short term sometimes.
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