The stock-market selloff has removed some of its positive bias
The stock-market selloff has removed some of its positive bias: Sevens Report Editor, Tom Essaye, Quoted in MarketWatch
Stock-market pessimism is climbing. Why it’s still not bad enough to imply stocks hit a bottom.
Tom Essaye, founder of Sevens Report Research, said the slump in bullish sentiment since November indicates the stock-market selloff has removed some of its positive bias, but that it also implies a return to a “normal” market sentiment.
“It isn’t yet created enough negativity that makes me more confident this pullback is over,” he wrote in a Tuesday client note.
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