On last night’s program, I discussed the psychological components of the recent sell off, highlighting those that are most telling including:
1. Blow off technical patterns among market leaders such as $LVS.
2. Rally in speculative names.
3. Extreme bullish shorter term sentiment readings.
4. Poor guidance from a tech bellweather – $CSCO.
Alone, none of these indicated lower prices, though, taken together we are able to formulate a diagnostic impression. You can watch here:
Leave a Reply