Investor Sentiment Check
How are investors reacting to today's sharp selloff? Investor anxiety is rising quickly, and this should help to limit the damage.
- The ARMS index is elevated at 1.86
- The CBOE put/call is high at 1.18
- The ISEE has fallend -22% from the open (118)
- The VXN has spiked nearly +20% in 2 days (17.81)
Although the dollar is down again today, I don't think this is the real catalyst for today's selloff. Rising energy prices are not helping, but it was likely a combination of WMT's poor same-store sales results and good old fashioned profit taking that is really to blame.
I would like to see a little short-covering into the close to mitigate some of the technical damage occurring today. We shall see...