The Trade Index
What Are The Market Trade Winds Telling Us?
INDEX STRENGTH: -4
Another choppy day that ended with the Nasdaq and S&P 500 closing at their lows. Crosswinds are back! We are once again close to oversold levels in the Tech sector; but strength in Financials and Energy are keeping the overall markets resilient. The short-term tactical index weakened and sits at -5. The long-term strategic index sits “firmly” at +1. Investor sentiment remains optimistic (a bearish contrarian indicator) and we’re in the heart of the early March seasonally weak period.
March 3, 2021. 8 pm ET