Omicrom Scares Traders

The emergence of the Omicrom COVID-19 variant is weighing on traders' moods this week.

Let's jump in and see what's going on.

Traders Back Away from Stocks

The S&P 500 fell 2.3% Friday as the Omicrom news weighed on markets.

That drove bullishness to 60% from 79% the week before.

However, futures are up Monday morning.

Some observers believe the Omicrom variant will be less severe than the Delta variant.

And Moderna (MRNA) may have a new vaccine in early 2022.

Now we'll see if the bounce lasts.

Bitcoin is well off the November 9 high at $68,958, and has been downtrending since then.

As you can see on the chart, Bitcoin has been hovering in the $53,000 to $59,000 range:

And as you might expect, the downtrend has traders more wary of Bitcoin.

Apple (AAPL) shot as high as $165.70 last week, but the stock just dropped $10 in short order.

Still, traders like the stock.

Traders are still somewhat cautious towards Tesla (TSLA), with just 53% of traders identifying as bullish.

So traders are still deadlocked on this controversial name.

Gold sentiment seems to bounce around based on whatever just happened.

Gold got hit late last week, so sentiment is down.

Crude oil prices are well off the October highs, so it's no surprise that sentiment took a big dive.

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