NEAR TERM: There is great trading volatility to play with. The 3% Bullish on 12/21 argued for bounces. Indeed, as noted “Now there is also a profile for some strength right into year end. So, keep your shorts on a short leash.” Indeed, stocks got strange quick. With 96% bullish today, it is definitely not time to chase. Still there is a profile for next week to look positive.
INTERIM TERM: An Interim correction is still due into February/March. This hard year end pop is weird. Let’s see what levels early January brings us.
DORSEY MARKET SENTIMENT: Extreme Bullish Sentiment had been overly optimistic for some time and with 96% bullish today is cautionary.
MARKET SUMMARY: Equity deterioration remains due into February/March 2022. But Inflation maybe providing more of a two way than one would expect. Hyperinflation will be very bullish for some assets. Enjoy the holidays!
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