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Daily Report : The Nasdaq quickly falls back into a correction

Jason Goepfert
2024-09-10
The Nasdaq Composite and Nasdaq 100 both suffered corrections in August, partially recovering during torrid rallies, then fell back into correction territory. This has not been a sign of smart money distribution. Rather, both indexes had a strong tendency to rebound in the months ahead, with almost exclusive gains over the next 6-12 months.
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The Nasdaq quickly falls back into a correction: The Nasdaq Composite and Nasdaq 100 both suffered corrections in August, partially recovering during torrid rallies, then fell back into correction territory. This has not been a sign of smart money distribution. Rather, both indexes had a strong tendency to rebound in the months ahead, with almost exclusive gains over the next 6-12 months.

Smart / Dumb Money Confidence

Smart Money Confidence: 55% Dumb Money Confidence: 59%

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Research

The Nasdaq quickly falls back into a correction

By Jason Goepfert

BOTTOM LINE
The Nasdaq Composite and Nasdaq 100 both suffered corrections in August, partially recovering during torrid rallies, then fell back into correction territory. This has not been a sign of smart money distribution. Rather, both indexes had a strong tendency to rebound in the months ahead, with almost exclusive gains over the next 6-12 months.

FORECAST / TIMEFRAME
None

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% Showing Pessimism: 11%
Bullish for Stocks
Inverse ETF Volume
Rydex Sector Breadth
OEX Open Interest Ratio
Risk Appetite Index
Mutual Fund Flow (no ETFs)
CSFB Fear Barometer
% Showing Optimism: 32%
Bearish for Stocks
S&P 500 Price Oscillator
Short-term Optimism Index (Optix)
S&P 500 Down Pressure
% Showing Excess Optimism
Rydex Money Market %
Rydex Ratio
Rydex Bearish Flow
Retail Money Market Ratio
SKEW Index
Options Speculation Index
AAII Bull Ratio
NAAIM Exposure Index
AIM (Advisor and Investor Model)
AAII Allocation - Stocks
NYSE Available Cash
Equity / Money Market Asset Ratio
Mutual Fund Cash Level

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