This week should tell us whether last week's rally was for real, or just a head fake.
Sentiment appears to be largely neutral. Our sentiment survey is still on a buy, and while we have over 50% bulls, there's a healthy number of bears in the survey too. Trader's Talk is showing an even split for tomorrow's trading activity. Sound like a prescription for chop to me.
Let's take a look at how our tracker folks are positioned going into this week.
Still a fair amount of cash being held by the Top 50. And the S fund is still the overwhelming choice for stocks. This chart has been quite busy so far this year, which is in contrast to the last few months of last year when stock levels stayed around the 80% mark.
This chart is not looking nearly as volatile. Cash is rising, but not by much.
The Top 15 is showing rising cash levels too, but is pretty much split between cash and stocks. It seems like a reflection of sentiment. Cautious and neutral.
Sentiment appears to be largely neutral. Our sentiment survey is still on a buy, and while we have over 50% bulls, there's a healthy number of bears in the survey too. Trader's Talk is showing an even split for tomorrow's trading activity. Sound like a prescription for chop to me.
Let's take a look at how our tracker folks are positioned going into this week.
Still a fair amount of cash being held by the Top 50. And the S fund is still the overwhelming choice for stocks. This chart has been quite busy so far this year, which is in contrast to the last few months of last year when stock levels stayed around the 80% mark.
This chart is not looking nearly as volatile. Cash is rising, but not by much.
The Top 15 is showing rising cash levels too, but is pretty much split between cash and stocks. It seems like a reflection of sentiment. Cautious and neutral.
