I'm throwing out the red flag/Who needs gov't data when you have me
With respect to stock market sentiment, I have to throw out the red flag today after seeing the Investors Intelligence survey with Bulls rising to 57.7 from 53.7 while Bears fell to just 15.4 from 16.7. That’s the least amount of Bears since the summer of 2024 and the spread of 42.3 exceeds my extreme threshold of 40. In today’s AAII, Bulls rose by another 3 pts to 45.9, the most since December 2024. The Bear read of 35.6 is down 3.6 pts w/o/w and the lowest since late July. This follows the Citi Panic/Euphoria index which rose to the most euphoric since February.
Bottom line, the sentiment is now ebullient and from a contrarian standpoint we should take note.
AAII Bulls
With respect to the oncoming onslaught of Q3 corporate earnings, I again ‘guarantee’ that about 75% of those companies reporting will exceed earnings expectations.
Delta beat both top and bottom line forecasts and said this:
Keep reading with a 7-day free trial
Subscribe to The Boock Report to keep reading this post and get 7 days of free access to the full post archives.