Trader’s Narrative

It has been a few months since we last checked in with the Coppock curve. If you’re not familiar with this indicator (also referred to as the Coppock Guide), check out the previous link for background information.
If you recall, back when we were still in the thick of the recent bear market, many saw the […]

Here is this weekend’s reading list of economic and market news you may have overlooked. To see it all, go to news.tradersnarrative.com:

Goldman Seeks to Settle With Lesser Charge
Get the Elliott Wave Theorist for FREE (limited time)
BP Directors Sued by Investors Over Gulf Spill Costs
Not just oil: US hit peak water in 1970 and nobody noticed
Two […]

Here is this week’s rundown of sentiment data for the market:
Sentiment Surveys
US retail investors as measured by the AAII weekly sentiment survey were decidedly less optimistic this week. Only 29.8% were expecting higher prices 6 months forward, a decline of 11.5% points from last week. More notably, the proportion of those expecting lower stock prices […]

About two weeks ago we looked at several measures of gold sentiment. The cross currents were a bit confusing but the DSI stood out since it was at the highest level of bullishness ever for that indicator since its inception in 1987! My final opinion was to defer to the parabolic nature of price and […]

After successfully catching a falling knife and riding a “V” shaped rebound, the bulls’ celebration was short lived as the market weakened further to retest the “flash crash” lows. We’ve been chopping around the 1080 area on the S&P 500 with a ferocious battle between the longs and shorts.
I’ve spent considerable time going over the […]