Thursday, February 18, 2010
Midday Briefing for February 18th: Themes and Sentiment in Gear
Here's a recent futures heatmap from the excellent FinViz site. In one glance, we can see strength and weakness across stock sectors and also across asset classes. With oil, metals and AUD firmer, intermarket themes have once again supported higher stock prices.
Notice also how the pattern mentioned yesterday--moving average of NYSE TICK consistently above the zero area--has again played itself out today.
When short-term sentiment and intermarket themes are in gear, it is tough to fade the market's dominant direction.