Why the market is rallying on fear - Yes, Fear!
The major market indices made another all-time high today. Ryan Detrick pointed out that ATHs tend to be bullish. That’s because of the price momentum effect that is in force which propels stock prices to new highs.
On the other hand, SentimenTrader observed last week that the market has flashed another series of Hindenburg Omens. Subsequent to that tweet, Tom McClellan pointed out that there was another Hindenburg Omen on Monday. Historically, clusters of Hindenburg Omens have resolved with a bearish bias.
Should traders be bullish or bearish?
Here is some out-of-the-box thinking. I would argue that the stock market rally is actually the result of a fear. Yes, you read that correctly – Fear.
The full post can be found here.
Source: http://humblestudentofthemarkets.blogspot.com/2020/02/why-market-is-rallying-on-fear-yes-fear.html
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