after market update: actual S&P +10.94 Markets were sideways all day, but the 1780 support indicated by social mood signals (see Near Term below), seems to be holding for now. Markets continue to be extremely oversold relative to social mood daily signals, which could possibly fuel a major bounceback.
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Overview: Collective mood shows a transition in progress. Social mood signals give near term market support near S&P 1780. Mood signals for the day indicate little net change in the markets is likely. However, markets are extremely oversold relative to daily social mood signals and may try to bounce off of support.
Near Term: Global mood trends imply a profound transformation in the global landscape taking place in the background. It may be another few days to a few weeks to really know what this is pointing to. The social mood trend had been turning down sharply, but has reached support. This may pause or reverse the downtrend in the near term. The market equivalent of this mood signal area is S&P 1780.
Long Term: Collective mood has been in a many month long process of topping. Long term indicators are flashing "caution," yet there is no definitive signal that a major market shift is imminent. The impact of human and natural disasters of late has been relatively low, but the trend is toward increasing impact. Over time, this may wear on both mood and socioeconomic stability.
Today's Signals: -3.3 from Google Hot Trends, -0.3 from Themes in the News. The projected stock market change for today is shown in the chart below.
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Mood signals from Google Hot Trends: On a daily basis, markets tend to follow social mood more often than not. Overall, social mood trend changes usually precede market trend changes.
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Mood signals from themes in the news: News tends to follow the general trend of the market, but on a daily basis, can either lead or lag the movement of the market.
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