The S&P 500 closed virtually unchanged today (7/30/20120), however, our Twitter Sentiment Indicator for the S&P 500 index fell sharply. The last time this happened was on 7/5/2012. The next morning the June jobs report was released which caused the market to fall for the next several days. What will tomorrow bring?
Just an update on 7/31. The sentiment indicator is even lower this morning at -.33 which is where it was at the first of June when the market was making new lows and after a few weeks of intense selling. Meanwhile the market is waiting for tomorrow’s Fed statement. Is sentiment anticipating a lack of a QE3 announcement at 2:15?