S&P 5007511.6
SLIGHTLY BEARISH-15
Bullish35%
Bearish45%
Consensus55
1D n/a3D n/a5D n/a
Hedgwatch Research
Retail Sentiment
A daily measure of directional market narratives across major equity indices, gold and crude oil. Track where commentary is leaning—and how that positioning changes through time.
As of 2026-08-02
Updated 2026-08-02 10:59 UTC
Updated 2026-08-02 10:59 UTC
Nasdaq 10028349.3
BEARISH-30
Bullish25%
Bearish55%
Consensus55
1D n/a3D n/a5D n/a
Gold4052.335
BEARISH-35
Bullish25%
Bearish50%
Consensus70
1D n/a3D n/a5D n/a
Crude Oil85.347
SLIGHTLY BEARISH-15
Bullish35%
Bearish45%
Consensus55
1D n/a3D n/a5D n/a
Historical signal
Sentiment trend
−100 strongly bearish · 0 neutral · +100 strongly bullish · click a Price legend item to compare
Narrative detail
What is driving sentiment
Conviction, intensity and dominant themes from the latest observation
| Market | Current narrative | Dominant themes | Conviction | Intensity | Coverage |
|---|---|---|---|---|---|
| S&P 500 | The repository presents a mixed but moderately bearish forward-looking narrative for SPX. Short- and intermediate-term indicators are predominantly short, momentum measures are weak, and the 9/13 signal is sell. This is partly offset by long-term moving-average support and strongly bullish retail positioning, leaving the overall view bearish with limited consensus. | Long-term trend support from 100- and 200-period averages · Strongly bullish retail positioningShort-term technical weakness · Sell signal across momentum and trend indicators | 58 | 62 | 1 |
| Nasdaq 100 | The repository's current Nasdaq narrative is moderately bearish in the near term but mixed across horizons. NAS100 and QQQ technical readings show broad short-term weakness, including sell signals, predominantly short moving averages, and negative momentum indicators, while longer-term 100- and 200-period averages remain supportive. Retail positioning is divided for NAS100 but notably bullish for QQQ, limiting overall consensus. | Long-term trend support · Oversold or stabilizing momentum signals · Bullish QQQ retail positioningShort-term moving-average deterioration · Sell and short momentum signals · Weak near-term technical breadth | 68 | 72 | 3 |
| Gold | The repository presents a mixed but moderately bearish forward-looking technical narrative for Gold. A buy count signal and isolated bullish indicators provide support, but most short- and medium-term moving averages, VWAP, momentum, and several oscillators indicate continued downside pressure. Coverage is effectively one repeated technical source, limiting independent-source consensus. | Buy-count signal · Longer-horizon trend support · Positive momentum confirmation in select indicatorsBroad short-term moving-average weakness · Negative momentum and VWAP positioning · Downside technical pressure | 58 | 62 | 1 |
| Crude Oil | The repository contains one materially relevant WTI/oil technical passage dated 2026-07-25. Its forward-looking signal is mildly bearish overall: the 9/13 count is sell and several short- and medium-term indicators are short, although longer-term moving averages, momentum, MACD, VWAP, and stochastic RSI remain supportive. Coverage is sparse and internally mixed. | Longer-term moving-average support · Positive momentum and MACD signalsSell count signal · Short-term moving-average weakness · Negative trend and momentum indicators | 45 | 48 | 1 |
How to read this page
Scores measure the directional balance of current market commentary. Positive readings indicate a greater share of bullish forward-looking narratives; negative readings indicate a greater share of bearish narratives. A rising score means narrative momentum is improving, while a falling score means it is deteriorating.
Current breadth
- 0 markets bullish
- 0 markets neutral or mixed
- 4 markets bearish