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The Market Ear on the bulls versus bears.
Extreme short term sentiment puke
JPM delta one team points out just how quickly their short term equity sentiment indicator has come down. They write: “Monday’s have recently been the reversal story of Friday’s, so given no weekend bogies, we may see a continuation of the upside reversal led by High Beta and High Growth into this week.” Chart two shows the previous occasions when the sentiment indicator was extreme.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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