 |
| marketing_silliness (Photo credit: jeffreypriebe) |
Our Market Sentiment Indicator measures the number of stocks that are bullish for the exchange or sector in percentage. More than 70 percent indicates the market is overbought and there is a risk that stocks might turn bearish soon.
You may take a look at our Market Sentiment Indicator figures below:
We think that a correction may be on its way two to three months later. In America, there are more than 3,000 stocks listed in both the New York Stock Exchange (NYSE) and Nasdaq Exchange. Currently, out of the 3,000 stocks listed in NYSE, more than 70 percent of stocks are bullish, meaning it is in the overbought region. My prediction is that it would be continuing its move upwards in the overbought region for another one to two months. Nasdaq’s listed stocks, however, have proved to lag behind NYSE listed stocks this year. My prediction is that Nasdaq might turn bearish in two to three months. A bearish run does not mean that the stock market enters into a bear market but we think there may be a consolidation with a drop of around 1,000 to 2,000 points.
It has always been this case in the market! Just when the market rejoice about the QE3, the stock market will rise to a new high, and a bearish turn will pop up one day. The thing is 99 percent of people buying stocks do not have any idea when it will strike. Today, I am giving you the estimated time for you to take as reference. But, this timeframe will also depend on the speed of the bullishness.... Continue to read.
No comments:
Post a Comment