I’m holding the sideways market prediction path from last Saturday’s show. It’s so awesome that the market is so bullish that its beating the prediction BUT… you guys got to see this.
Check out how the CMF has been heading down forming a negative divergence to price:
The market sentiment gauge on GuerillaStockTrading.com has fluctuated between 55 and 60 this week. It’s in the yellow zone which is a sideways market prediction but it’s been holding on the more bullish side of the yellow zone.
I’m probably being too cautious and I’m likely going to end up being wrong as the market outperforms the prediction this week BUT, you guys got to see what’s happening with Put hedging right now:
The Equity Put Call Ratio chart shows that the level of Put buying has been rising relative to Call buying. That’s a bearish signal folks so I’m holding the sideways prediction. If you need a review of what Put buying is all about, check out this lesson on option trading strategies.