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Strategies & Market Trends : General market lab and commentary

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Nov 26 4:00 PM EST

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From: Robohogs	2/28/2016 8:58:38 PM
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Guys and gals, I entered the weekend ST bearish. No stopping it. Market overbought. La da da da. I did not like position, did some research and came out on the fence - the stuff where I showed big past rallies even as overbought slowly fixed self. But still on the fence. Then I saw SKEW - getting as close to "normal" as it does these days. VIX very contango of it. Put calls normalizing. Bears will say complacency. Looking through my twitter feed, I am not so sure. Bulls really nowhere. Go check out the HMeisler twitter feed linked above. Lots of good things, including the following item she commented on: socialleverage50.com Another strong week for the SL50 list, which gained 2.2% on average. After successfully testing their January 20th momentum lows, stock indexes have slowly recovered above or near their 50-day moving averages. The bad news here is that quite a few market breadth readings are already in overbought territory. The good news is that this is something normal and it usually happens during the initial stages of a recovery. Indexes could remain in overbought territory, keeping skeptical market participants on the sidelines while sector rotation defines price action. Me back here - There is the rotation discussed earlier in weekend. The article shows leaders of rally. I am convinced no one getting excited because no FANG/FATMAN or bios there. Bios were down in big week while GOOGL eked out a tiny gain. What does future hold? No one knows - all this guys with big conviction? No. Lots of he feed beating up on uber bear Jeff Gundlach as saying bearish stuff and buying stocks. Jon

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