Bullish or Bearish? Week of August 1, 2016

Here is my latest analysis of the stock market, published today on MarketWatch: 

http://goo.gl/f3SWvV 

Note: I will continue to post the technical and sentiment readings on Fridays after the market close (deeper analysis every two weeks).

Here’s a summary of this week’s numbers:

Technical Indicators:

S&P 500 is above its moving averages = Bullish

MACD (S&P 500) is above zero line = Bullish

S&P 500 Support: 2,150 (Above support = Bullish)

Sentiment Indicators:

II survey (July 26): 53.9% Bulls; 21.6% Bears = Bearish

AAII survey (July 27): 31.3% Bulls; 28.4% Bears = Neutral

VIX @ 12.44 = Bearish

RSI (S&P 500) @ 62.74 = Overbought

I will notify you of my blog posts via twitter @michaelsincere

Understanding OptionsUnderstanding StocksStart Day Trading NowAll About Market Indicators