NYSE Bullish Percent at Record Lows

Just a quick note: The NYSE Bullish Percent is now sitting at 9%.

It has not been this low in over 20 years. We’re talking about fear and panic based pessimism here.

Five weeks ago, it was at 45%.

There is definitely opportunity for a trade here. But, with the magnitude of this crisis, I’m waiting until we get a reversal up to 16% before going long equities. We could still have more distressed, forced selling, so I want to see some demand come back into stocks in the short run. My longer term outlook is still bearish, however.

If we get a coordinated global intervention by the Central Banks, and the dollar is showing strength, I’m looking at buying the [[QQQQ]] , and focusing on the small and mid cap growth indices via [[IWO]] and [[IJK]] . This gets me immediate exposure to stocks. Costanza developing…………..