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Piqqem released its weekly sentiment for the week ending April 9, 2010, and it shows overall market sentiment converging on the 30 day moving average. This convergence is led by a positive sentiment move in the Russell 2000, while the Dow Jones 30, S&P 500, and Nasdaq 100 remained neutral.

Overall market sentiment is at 7.11 flat from last week. The sentiment trend implies that market confidence is neutral and points to sideways movement in the market, ahead of a very busy earnings season. Let’s now see if sentiment will move above or below the 30 day moving average for next week. In a further neutral signal for the week, there was 1 stock increasing in sentiment for every 1 stock decreasing in sentiment.

This Week’s Sentiment Winners and Losers

For individual stocks, our weekly winners included Cumulus Media (NASDAQ:CMLS) and Murphy Oil (NYSE:MUR), while the stocks dropping most in sentiment included Nautilus (NYSE:NLS) and Boeing (NYSE:BA).

About the Piqqem Market Sentiment Index

Piqqem tracks sentiment on all securities including stocks, mutual funds, ETFs, and major market indices. The Piqqem sentiment scale runs from 100 on the high end to -100 on the low end. The actual Piqqem Market Sentiment Index is proprietary blend of multiple factors including sentiment specific to the four major indices: Dow Jones 30, S&P 500, Nasdaq 100, Russell 2000.


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Disclosure: No positions

Source: Market Sentiment Converges on 30 Day Moving Average