Summary
Back on May 1, we noted that bullish ‘green shoots’ were developing in the weekly insider-sentiment data provided by Vickers Stock Research, particularly at companies that list on the Nasdaq. Over the next five weeks, those sentiment shoots blossomed and stocks responded accordingly, with the S&P 500 higher by 3.1% since May 1 (through the close last week) and the Nasdaq 8.6% higher. But for the past few weeks, insider sentiment has started to wobble back and forth. Along those lines, Mark Arbeter, Argus’ chartered market technician, has detailed a lack of breadth in stocks and possible reversion to the mean after big gains in a relatively short period.
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Source: https://finance.yahoo.com/research/reports/ARGUS_36753_MarketSummary_1686654398000?yptr=yahoo&ncid=yahooproperties_plusresear_nm5q6ze1cei