Overly Negative

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Overly Negative

I wrote about the possibility of a sell-off at the end of July in Watch Your Downside and since then markets have swooned down due to a number of macro and technical factors.

While I think there is some more downside possible and that macro risk is real, sentiment has turned wildly negative in a short period of time so would not be surprised if we saw some respite in selling.

The S1FI chart below shows that we now have fewer stocks above their 50day MA than we had even back in May when we had lower prices.


Overly Negative

by editor time to read: <1 min
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