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McDonald’s, Johnson & Johnson lead the way as Weekly Market Sentiment Moves below 30 Day Moving Average

Piqqem released its weekly sentiment for the week ending April 30, 2010 and it shows overall market sentiment moving below the 30 day moving average. The move was lead by a decline in all four major indices. Overall market sentiment is at 6.81 down 1.8 pts in the last week. The sentiment trend implies that market confidence has indicates continued market consolidation in the near term. In a negative signal for the week, there were 3 stocks decreasing in sentiment for every 2 stocks increasing in sentiment.

<a href="http://www.piqqem.com/blog/20100503-mcdonald-s-johnson-johnson-lead-the-way-as-weekly-market-sentiment-moves-below-30-day-moving-average" title="Piqqem Blog: McDonald’s, Johnson & Johnson lead the way as Weekly Market Sentiment Moves below 30 Day Moving Average">http://www.piqqem.com/blog/20100503-mcdonald-s-johnson-johnson-lead-the-way-as-weekly-market-sentiment-moves-below-30-day-moving-average</a>

Bottom has passed. Things are looking up.

Looks like we will bounce around the 8000 mark for a while.