While risk assets gained and the U.S. dollar slid, crude oil continues mired in a bearish market.
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The Dow Industrials did not follow the Transports so I continued my bearish market call, as valuations remained overvalued.
So I am looking for strong fundamentals in a bearish market, because even if the market does fall and my stock does fall, I know it is not going to fall through the floor.
What would end this bearish market call is a Dow Theory Buy Signal, which is defined as follows: A Dow Theory Buy Signal will be confirmed if the Dow Transports close above its May 3rd high at 4, 806.1, and the Dow Industrials close above its April 26th closing high at 11, 205.03.
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Investor sentiment, always very bullish at market tops, and very bearish at market lows, was at extremely bearish levels at the low in early 2009, convinced the market could only go lower.
The stronger greenback Friday is a bearish outside market force for the precious metals.
The firmer greenback Monday is a bearish outside market force for the precious metals.
Meantime, Nymex crude oil futures prices were weaker Tuesday, and that was a mildly bearish outside market force for the precious metals.
However, a stronger U.S. dollar index and lower crude oil prices are bearish outside market forces working against the precious metals Friday morning.
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Gold is under mild selling pressure Wednesday on the bearish outside market forces of a firmer U.S. dollar index and steady to weaker crude oil prices.
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It measures the sentiment of brokerage firm analysts and independent investment advisors, two groups that also are excessively bearish at market lows, and excessively bullish at rally and market tops.
In the end, however, the gold and silver markets saw selling pressure intensify amid bearish outside market forces that included a sharply higher U.S. dollar index and lower crude oil prices.
Meanwhile, the institutional money with a better track record for timing market moves correctly is making decisively bearish bets on market direction.
As the year winds down there is less investor and trader risk aversion in the market place and that has been bearish for the gold market.
If this situation deteriorates in the coming weeks, it could at times be bearish and bullish for the gold market bearish if gold decides to act like just another raw commodity on a given day, and bullish if gold decides to act like a safe-haven asset.
More cuts in federal outlays might cause investors to turn bearish in the market.
The cross of the 50-day moving average above the 200-day moving average is bullish for the fund and bearish for the market.
If it adds significant quantity to the existing supply, the already bearish iron ore market may slide further in the absence of a pickup in demand.
Every week, II surveys financial advisers and reports the percentages that are bullish and bearish on the market (they have a third designation for those on the fence).
Although I am still intermediate-term bearish on the market, not expecting the low for this second year of the Four-Year Presidential Cycle until October or November, this short-term rally might have longer legs than the last three oversold rally attempts that have taken place since the market topped out in April.
Though unusually high levels of bearish sentiment have corresponded with market bottoms, there have been 10 periods when an initial rise in bearish sentiment above 50% has been followed by at least a second reading above 50% within a four-week period.
Did Robert Shiller, so bearish on the home market, catch the turn in prices and activity?
Forbes columnist Gary Shilling has been bearish on the stock market for the last few years.
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These risk-on days recently have been more bullish than bearish for the gold market.
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This is the reason why I turned bearish on the stock market in 2007 when everything looked rosy.
The near term trend remains bearish, but the market is showing signs of stabilizing above the spike low.
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It too turned bearish on the mortgage market before the financial crisis erupted.
For the short-term Toth said the market is bearish, but for the long-term, the bull trend is still intact.
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The U.S. dollar index was firmer Thursday and that also was a bit bearish for the gold market Thursday.
If you are still bearish on the stock market, you will love John DelVecchio, one of the staunchest bears around.
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