See the next chart
IWM led the market lower last week, and it has current probed into a support zone.
On the other hand, to say traders are bearish is the understatement of the century as a look at the equity put/call ratio easily shows. This is a contrarian indicator when it is so heavily skewed in one direction.
In summary, technicals seem to give some weight to the bear case here (but so far without confirmation).
Sentiment is currently at a bearish extreme, indicating a possible bullish outcome, but such tides can take time to turn, so all I would say here is to use caution on positioning while the market works things out.
IWM led the market lower last week, and it has current probed into a support zone.
On the other hand, to say traders are bearish is the understatement of the century as a look at the equity put/call ratio easily shows. This is a contrarian indicator when it is so heavily skewed in one direction.
In summary, technicals seem to give some weight to the bear case here (but so far without confirmation).
Sentiment is currently at a bearish extreme, indicating a possible bullish outcome, but such tides can take time to turn, so all I would say here is to use caution on positioning while the market works things out.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.