Back To The Beginning I Perch Observations #19 I November 24th
Simplifying the market screening process. I Weather Report covering futures, equity indices, stocks, bonds, commodities, currencies, and crypto. I Disclaimers.
Before we get into the chart review, reading the latest price action and Podcast suggestions, I think this quote from Brent Donnelly is interesting as I’ve been spilling plenty of digital ink about the Wall of Worry since Perch Observations #15.
ED: You did a survey, an investor survey, and the results were really interesting. Talking about our investors bearish or bullish, particularly about AI. Right after I read the results, I jumped on CNN’s website to look up the Fear and Greed Index. The Fear and Greed Index at one point this morning was nine out of a hundred. Like, extreme fear isn’t even a strong enough word or phrase for how scared a certain segment of investors are. But you didn’t find that in your survey.
BD: No, not exactly. So I think what’s going on is that this is my view, and obviously I could be wrong, but what I see is more of a rotation than like an outright panic trade.
So now going to the survey, essentially the questions all kind of revolved around the current state of AI and what people think, whether it’s a bubble. And the majority of people do think it’s a bubble, but also the majority of people do not think it’s topped.
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Back To The Beginning
It’s been all about SPY $665 for quite some time. Here’s the image from below the paywall in Dinks In The Kitchen. I Perch Observations #18
Let’s zoom in and discuss further…
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