“Train yourself to let go of everything you fear to lose.” 

— Yoda

 

Good Afternoon,

I will keep this one short today – with a focus on sentiment.

The expected history of September has not disappointed.  Chop and churn has been the name of the game.  Seems like good news is just not good news anymore – no matter where you look.  All of last week down – and this week has been up and down the entire time.

If, by chance, you are feeling any stress about this – I have 4 words for you:  snap out of it, soon.

The data I will share with you below tells us one thing:  the churn is working perfectly…and setting the stage for some nice movement into the close of the year, once earnings start.

Let’s hope we can keep this churn up for another few weeks….enjoy.

The Bulls Have Left The Building

It only took a week or two – and the bulls have vanished.  Did anyone tell them they are not the species that hibernates during the winter?  I jest of course : )

…ream ’em and reap

 

There are a few things to highlight here.  At 22% bullish, by far the lowest reading all year(!), we have seen bullish sentiment effectively cut in half during September!  The flip side?  A full 78% of the audience does not like the market for the next six months.

Absolutely incredible – and very positive – if we can be patient.

Why?

You need to see this to believe it…so here we go

 

— On the 23rd of April last year, we got close to the current low reading for the Bulls.  Note, however, that was after the 5-week waterfall selling panic due to the global pandemic shutdown.  That reading was 24.86%…higher than where we are now, back at prices 90% lower than where we stand.

— At the end of the Global “Great Recession” ending in March of 2009, at a reading on the DOW of roughly 6,800, the bullish reading was 18.92%…just 3 small points away from the current reading released last evening.

— At the end of a 30-month Tech bubble bear market, back on March 6, 2003, the bullish reading was 19.20.

Read VERY Carefully

Let those three other data points sink in…and I mean really sink in.

Sure, we can see some more chop and red ink as September meanders its way into the record books.  Embrace it and let it flow over you like a running stream.

But..after you let go of all the things you fear losing – and really take in the implications of this data – ask yourself just one question:

What happened AFTER all those other low readings?

I close with one thought to keep in your mind when red ink comes to call:

…Faith and Fear have always demanded of us the very same thing.

They both demand that we believe something we cannot yet see.

We get to choose which emotion we’d like to participate in.

 

Until we see you again, may your journey be grand

and your legacy significant.