Brutal Selloff Continues, Sparing Nobody: StockTwits

NEW YORK (TheStreet) -- The selloff continued today, sparing nobody. On StockTwits.com, bearish sentiment has clustered around the S&P 500 ETF (SPY).

Screen Shot 2014-04-11 at 11.33.07 AM

Another noteworthy development today was the low print in the StockTwits' General Sentiment indicator that I privately maintain, derived from in-house StockTwits data (Here's more info on how it is calculated). As of midnight last night, the indicator was at its lowest levels since I began tracking six months ago.

Each previous time we've pierced the 3.0 level, markets have bounced. Is this time different?

Screen Shot 2014-04-11 at 7.49.02 AM

Cashtaggers are starting to point out 'oversold' indications, too.

Small caps haven't been this oversold since Nov 2012. $IWM $TZA http://stks.co/e0Qvs

-- Ivaylo Ivanhoff (@ivanhoff) Apr. 11 at 12:58 PM

If you liked this article you might like

Market Is on the Straight and (Very) Narrow

Look Back to Go Forward

Stock Observations; Reviewing Equities: Doug Kass' Views

Even North Korea's Kim Jong Un Can't Stop This Epic S&P 500 Stock Rally

Robots Might Be Biggest Obstacle for Stock Market Bears