STW is theETF tracking stock for the XJO. People invested in STW tend to be a group of conservative 'savvy" investors and not the group usually dumped in the "dumb money" category.Previously I've noted an ability of this group to be "right" about the direction of the market. Like any group, they can be wrong - and sometimes they are "right" a bit earlier than they should be.
It just struck me that the On Balance Volume for the STW has formed a clear Head'n'Shoulders formation while the stock is in a sideways consolidation.
That suggests that the sentiment of this group is "bearish". Maybe they are right this time, as they have often been in the past. Maybe they are wrong this time.
I'm just passing the information along.
Cheers
Red
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