A Complicated Landscape
The market has become a more complicated landscape. We recently observed an interesting divergence between different institutional sentiment surveys. One showed extreme bearishness, which is typically consistent with market lows, while another survey showed the type of excessive bullishness that is typically associated with market highs. Bulls and bears have used the surveys to make their own points, but we haven't seen anyone try to reconcile the divergence in sentiment. We'll try to make some sense of the situation here.
The BOA sell side analyst survey has completely collapsed and shows extreme bearishness on the part of sell-side market analyst. We haven't seen readings this bearish in the survey since the 1980s, and it suggests sentiment is in the right place for the market to stage a recovery (remember the more bearish sentiment is, the better it is for the market)....265 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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