There is a rather unconventional and completely unfounded notion that once you see something like this, it marks the top. For purely entertainment purposes lets see if its works!
Haha nice post. Need. Moar. Euphoria. I actually do not see a major correction ensuing yet...even despite the 8 up days in a row...and the overall rampage we've been on since the election. What I basically think happens is barring any major surprises or black swan events, I'm thinking we're gonna go through a period like H1 2015, or Q2/Q3 2016. Basically having a correction, but through time not price. We will still see a -5% draw down here and there, but nothing too dramatic or at least meaningful to say that a major top has been put in. Honestly, I just don't sense the euphoria as some people are saying. IDK, just a different feel this time around than other times IMO. That could certainly change though. And, I have said multiple times that I do see more optimism creeping into the markets...which hoenstly is something I haven't seen in a long time. But, as far as the euphoria goes. Nah, it's really non-existent at the moment. Need to get more bears capitulating. Still seeing some pessimism out there. Albeit, the level of pessimism is not quite as high as it's been in past years of course. But, I like to see everyone and their cousins get on the same side. Thus, I don't see that yet. Honestly, I think once my mom starts finding interest in the markets again, that'll be a big tell for me personally lol. Also, if you guys notice we're finding acceptance at these higher levels which is interesting. No major excess on these highs. Preferably I would like to see a day where we have a nice size topping tail during the RTH where the high is also an ATH. Highs typically made in an overnight session does not mark an end of a move. Probably going to see some choppy action until some big catalyst gets us moving again is my thinking. Spoiler: As Neutral As It Gets (Click to Show!) As Neutral As It Gets Feb 16, 2017 When it comes to market sentiment, the latest data from AAII shows a picture that is just about as neutral as it gets. However, given the fact that the S&P 500 and Nasdaq are currently in the middle of seven-day winning streaks, one would expect a little bit more conviction. As shown in the chart below, bullish sentiment this week came in at 33.09%. This is the fifth straight week that bullish sentiment has been below 40%, and the 111th straight week that bulls have failed to take a majority, and that makes this the longest sub 50% run in bullish sentiment in the history of the AAII survey. With bulls not even surpassing the one-third mark this week, the record streak looks set to continue for at least a little while longer. Like the bulls, slightly less than a third (32.36%) of investors placed themselves in the bearish camp this week, but with stocks at record highs, you would expect a low level of bearish sentiment. Finally, the only category of sentiment that was above one-third this week was neutral sentiment which came in at 34.55%.
Tend to agree. I've waited too long for the correction that I really felt was coming. Finally about 2 months ago after working into a 60 percent cash position I couldn't hold back any longer and started legging back in. No regrets so far other then waiting too long. I do think that correction is coming and agree it will likely be slow. Overall though bullish rules. I'm not seeing any signs that this bull market is ending. I think we'll hit 2500 this year but may be a little sloppy getting there. Also, I have to ask Cy. how did you put that "Spoiler" button in there to collapse the text? I'm figuring you used "insert code" to get that done.
@JerryM Sure thing! It's really just a simple click of a button. First you hit that [+] button then click on "Spoiler" and then in the box that pops up you type in some text which will be the title of your Spoiler. All you need to do after that is post your text inside the- [ SPOILER ] Text goes here [ / SPOILER ] That's it.
