Quick Sentiment Check
The sentiment indicators are mixed so far.
- The NYSE ARMs Index is running low at 0.96 (neutral)
- The ISE Sentiment Index is at 204 (showing bullishness)
- The CBOE put/call is at 1.01 (showing bearishness)
- The volatility indexes (VXO/VXN) are both higher
While the high put/call ratio might help support the market from plunging further, it is unlikely that the market is going to make much headway with bond yields spiking. The 10-year is now up 10 basis points to 5.08%, providing a stiff headwind.
And to the fellow who e-mailed me earlier, I sure am glad I didn't short NTRI into earnings! The company trounced estimates and the stock is up 32%. Wow.