Perplexing Sentiment

Many times, you just have to sit back and marvel at market sentiment. Just about a month ago, European Central Bank President Mario Draghi told us he would do "whatever it takes," and everyone got pumped up. Then, on Wednesday, we heard about the ECB's new bond-buying program and it was met with a giant yawn. Sure, it's possible that Draghi's definition of "whatever" is different from that of investors -- but, considering the S&P 500 was at 1400 then and it is at 1400 now, it is incredible to see the change in sentiment based on this one "indicator."

Now, that is anecdotal. What isn't anecdotal is that the Investors Intelligence readings saw its bullish percentage move to 51% -- the highest level since the spring. What's even more incredible is that, nearly four weeks ago, the S&P was right here at 1405 and bulls were at 43%. Today it stands at 1405 and bulls are at 51%....414 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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