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Stock Barometer

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A Shift

6/6/2014 5:54:20 AM

Good morning traders,

A couple charts for you this morning as we see the markets break out higher following a pause.

One of our measures of sentiment, the AAII Survey, which measures bulls, bears and neutral investors. We had recently seen a historic level of neutral traders, as the doubt of this rally continued. We're finally seeing those traders shift to bullish:

AAII % Bulls Chart

You can access all 14 years of our data www.stockbarometer.com

On the breakout, it was telegraphed when the market didn't break down. This is a measure of market efficiency:

NASDAQ Barometer Efficiency Chart

So as the QQQs sat around at highs, the energy inside built up for this break out. The key here, as we've seen time and time again is if there's no follow through, then we have a more bearish development in the market. But we're not there yet as we have to get through the Jobs report and it's a Friday in the summer...

Regards,

 

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