Commentary: Paul Ebeling on Wall Street


Earnings Monday

This week more earnings, while the economic data slows a bit.

Good breaks higher that held for the indices and many stocks within. The Key will be if new money comes in to extend the rally.

Semi’s are back in leadership, this is a huge Northside indicator. China stocks are stirring with some breaking higher, others looking to do the same. But China is closed all week in celebration of the Lunar New Year.

US Financials are still in recovery mode, setting up for the next move. 

Remember, I wrote about the sentiment indicators being leading indicators, and the initial leaders setting up and moving North. Well, That is happening. This a process that is working to the Northside now.

The Bulls Vs The Bears 

Investor Sentiment

VIX: 16.14; -0.43 
VXN: 19.80; -0.44 
VXO: 16.67; -0.43 

Put/Call Ratio (PCR) CBOE: 1.13; +0.29 

The Bulls up some, but the move has slowed after its dive into the thirties during the December selloff.

The Bears are fading but remember the Bulls and Bears crossed posting their contrary signal. 

The Bulls are at: 45.8 Vs 45.4 last

The Bears are at: 20.6 Vs 21.3 last

Support and Resistance

HeffX-LTN overall technical support and resistance outlook for the major US stock market indexes is Neutral to Bullish.

Have a terrific week.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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