Fed Has Trader Sentiment At Standoff
Below is the sentiment/bias of the major contributors at zentrader for the next 2 weeks. The big difference this time is there is no neutral as traders take more of a side, albeit the overall indicator is at a deadlock with no edge, which is very reflective of a market that has worked off an oversold state and no remains short term overbought with a Fed meeting in the immediate future.
Directly below is the current sentiment and the chart at the end of the post is from 2 weeks ago so you can see the difference.
All About Trends - Cautiously bullish on spx to 1435 zone of resistance to TEST that resistance. Bullish – Neutral
Financial Tap - Generally clear sailing for equities as the daily and investor cycles are sill very early. This combined with seasonality and I don't expect any real headwind until early Jan, likely around earnings season. That said, we will see a half cycle low sooner rather than later, that could be good for a 20-30 point drop over 5 days. – Bullish
Liz DeMera - I'm still neutral on the market and slightly leaning bearish, but will not short unless we see a quick upside to the 1475 + area and then the uncommitted shorts will give up and that would be my better risk reward entry on the short side. – Neutral
Karen Starich - Everyone expects a bullish bounce with the FOMC meetings and we could see a move higher at the beginning of the week. The trend could reverse near December 13th or 14th. Uranus moves direct on December 13th which is very unpredictable and could bring more fuel to a downturn. - Bearish
Jeff Pierce - Over the last two weeks nothing has changed from a long term market timing stance as general markets remain weak despite the bounce. I added to my shorts last week. – Bearish
Chris Ebert - The option indexes continue to suggest that bulls are in control. But, those bulls lack confidence now. In the next week or so, the market appears to have bullish tendencies, but the lack of confidence tends to lean toward a neutral outlook. - Bullish – Neutral
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.