Investment advisors have remained extremely optimistic, despite the less than stellar market conditions since the market peaked late January. This works as a contrary indicator, because people become more bullish after buying stock – call it the pride of ownership).
S&P500 versus Sentiment (1988 to present)
Source: Chart of the Day
One can disregard overly optimistic sentiment indicators if the tape and internals are strong. They have been choppy lately, and not providing very much guidance.
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Quote of the Day:
“Regret for the things we did can be tempered by time; it is regret for the things we did not do that is inconsolable.” ~ Sydney J. Harris (1917-1986)
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.