From the desk of Steve Strazza @Sstrazza
This week’s Mystery Chart exercise gives us a nice glimpse into the current sentiment amid the recent volatility, so thanks to all those who responded. The overwhelming majority of you we’re either selling or doing nothing, which comes as little surprise.
Many of you wanted to sell this chart aggressively and even cited the current market environment as part of you’re reasoning. But! The chart was inverted… so all those who were pounding the table to short it were actually buying the Nasdaq 100 (QQQ) relative to the Russell 3000 (IWV).
I’m curious to see how, if at all, this changes your perspective on the chart. Tweet me @sstrazza with your thoughts!