Not much has changed from last week regarding sentiment calculated from Twitter for the stock market. 7 day momentum is still compressing between a bull market oversold level and a confirming downtrend line. When one of these lines break it should point the direction of the market for the next few weeks.

The number of bullish stocks is still well above bull market levels. As long as it holds, there is no threat to the intermediate term up trend. The bearish count fell slightly which is a positive as it suggests short sellers are taking profit.

Conclusion

We're still watching the triangle being painted by 7 day momentum. It should point the direction of the market when the triangle is broken. If the number of bullish stocks falls below its bullish oversold level it will be a threat to the intermediate term trend.