Wall Street analysts and retail investors have grown extremely bullish as the market sets new highs.
Technicians like Stephen Suttmeier at Bank of America Merrill Lynch have been positively giddy recently, noting a bullish rotation into cyclicals, but also to value from growth, high beta from low volatility, cyclicals from defensives and small caps from large caps.1) Barclays says that small caps are at an inflection point and poised to outperform: "Headwinds have subsided," they declare.
Even the average retail investor is getting bulled up. The American Association of Individual Investors weekly sentiment survey showed 40.7% of respondents are bullish, the highest levels since May, while only 23.8% are bearish, also near the lowest levels since May.
This market is so grossly overbought and overvalued it’s on less than a millimeter of ice. At 3106. This market needs a 5% correction or more imminently. It’s out of control honestly. And I’m a bull.
Can we apply Newton’s 3rd law on the US stocks ?
The 2% Dude's need a new boy! The old boy's next address, Leavenworth Federal Penatieriry.
I thought only Markets in Turmoil were worrisome. Now rising markets are worrisome too? Good grief
Oh dear what can the matter be..?
Algos go up. Then they crash.
Not surprising...