US Sentiment Market Review

Source: Kevin Lane, (FusionIQ) IQ Outlook , September 14, 2011

Kevin Lane:

We sit in the camp that requires more definitive proof from price action before we stick out nose out of the foxhole. In our view it is better to be a bit late, once the move has been clearly established, than to jump into the fray with both feet without limited evidence and then hope for the best.

Most charts are still in wide trading ranges and until they are resolved (up or down) it’s best to let everyone else churn themselves around in the volatility. We would continue to focus not on the bad news, but rather how the market reacts to it because it’s not the news but the reaction that counts . . .

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