SubscribeAll Posts Tagged With: "investor sentiment"
This Stock Market Rally May Have Further To Go
Expect the choppiness to increase, though…
As you know, in predicting the current rally, I noted the extremely bearish investor sentiment, the extreme oversold condition of the major indexes beneath their long-term 200-day Moving Averages (MA), and early signs of improvement showing up in the housing industry (where I have said the first signs of economic recovery will begin).
I expected the market would realize the downside had been overdone at least temporarily, and would launch into a significant rally that could amount to as much as 50% for the S&P 500 (if it rises enough to retest the overhead resistance at its 200-day…
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