FEAR AND GREED
Fear seems to be winning out so as the market continues to drip lower and the Volatility indexes continue to move higher. The Volatility sisters now are all up another 7.5% or so and are all officially overbought and giving out the best buy signals that I know.
The Semi's, usually the first sector to head down and the first to head up is also hanging tough as it is only down 6 cents. The banking index is also down about 1/3% so there is some hope that these leading sector groups will show us the green shortly. There is also lots of chatter about a black Monday, but I do not see that as a likely scenario.
Anyone notice that the QQQQ is now red on the year.
The Semi's, usually the first sector to head down and the first to head up is also hanging tough as it is only down 6 cents. The banking index is also down about 1/3% so there is some hope that these leading sector groups will show us the green shortly. There is also lots of chatter about a black Monday, but I do not see that as a likely scenario.
Anyone notice that the QQQQ is now red on the year.
posted by DAVID at
12:42 PM
3 Comments:
Hmmmm....didn't expect a bounce today, really. It's supposed to be turn around Tuesdays not Fridays. Fridays usually are flat to down, depending on what the direction of the market was for that week.
I am not even sure about a bounce Monday......perhaps we turn around on Tuesday.
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