This is a daily chart of the S&P 500 Futures.
Look at the lower boxes. In the lowest one it’s obvious that the small traders are unafraid! A potential contrary indicator right there.
Obviously, not something to base a decision on by itself, but combined with whatever else you’re tracking, might be helpful.
Click to enlarge
I’ve got some skin in the game, and want a bearish move in the short term, a bullish scenario – long-term.
January 1990 through December 2009 (a period of 20 years) a total of 1,003 unique companies have been constituent members of the S&P 500.
Isn’t that crazy? This basically convinces me that owning individual stocks is very risky.
Dissolution of S&P500 is a lot less likely than bankruptcy of any given stock, and you’re at least guaranteed the dividend. Plus the options (for call writing) are very liquid and fairly priced.
Latest insider buy/sell stats, as of March 8th.
In addition to this, there’s been some selling on strength of SPY, not super significant but around $150MM yesterday.
And here’s the SPX chart with all the indicators.
Short-term, somewhere half-way between oversold/overbought, but longer term (top stochastics) shows that the index may drop further.
End of transmission 
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