They’re now worried after frenzied stock buying by the momo crowd, who essentially ignored the deadly virus. In the U.S., cases are increasing in many states.
• The chart shows an Arora sentiment indicator was giving sell signals throughout the formation of the island. Sentiment at extremes is a contrary indicator. In plain English, when sentiment becomes extremely positive, it is a sell signal. It is important to note that some publicly available indicators work well, while others do not. In general, we have found that publicly available sentiment indicators do not work well, hence the need for proprietary indicators.
• The chart shows that the volume was very high on the day when the gap was formed on the right side of the chart. This adds to negative potency of the pattern. • In a pane below the volume, the chart shows the S&P 500 ETF SPY, +0.07%, which tracks the benchmark S&P 500 Index. The pattern in the S&P 500 is the same as in the Dow Jones Industrial Average. It is important for investors to confirm the pattern by looking at different indices.
• The chart shows Carnival CCL, -2.67% is tracing a pattern that is less ominous. A similar pattern is being shown by Royal Caribbean RCL, -0.58% and Norwegian Cruise Line NCLH, -2.19%.
Call it the Trump bull market signal
But Nigam is pretty much a permabear
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