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Sentiment on crude oil and stocks

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Short-term sentiment on crude is very optimistic, suggesting a pullback, but long-term trend evidence is still oversold and the rig count is low - both bullish. Short-term stock sentiment indicates we are oversold. But intermediate-term sentiment on stocks is just coming down from a long period of being overbought, and price/sales and market value to GDI are both sky high.

Ned Davis Research | NDR Hotline | Insights | 3X Weekly

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