Macro-Monday
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Click To Enlarge Our Bull / bear ratio chart shows just how sharply we have have recovered from the December 26th lows. In that time the bull / bear ratio has rebounded from .01 on 12/26, to .91 as of today. Moneyflow has turned positive, however, we remain overbought and price is now outside the upper Vol band. In todays video we look at not only the overbought nature of all the major indices, but also the oversold positions of GLD, TLT and similar negatively correlated tickers suggesting a pullback or sideways move in the broader market.
The sector bull / bear ratios are also improving, however they are suggesting a mostly defensive recovery as XLU and XLV remain in among the strongest bull / bear ratios. Financials had a strong week on the heels of mostly strong earnings. Visit our Market Conditions page to see all of these metrics updated weekly.
Also in our meeting today, we examined a possible XLY trade using a long diagonal call spread. This trade looks to benefit from selling premium against a long-dated in ITM call.
You can watch todays video HERE
Also in our meeting today, we examined a possible XLY trade using a long diagonal call spread. This trade looks to benefit from selling premium against a long-dated in ITM call.
You can watch todays video HERE
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