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Wednesday, June 25, 2003 12:32:17 PM
Chart of the Day
According to today's chart, investment advisors are extremely optimistic. If you accept the theory that pessimists are potential buyers and optimists are potential sellers, then the current percent bull reading of 75.3% suggests that the Gulf War II rally may be running out of steam. It is interesting to note that currently, there are more bullish investment advisors relative to bearish advisors than at any period during the tech bubble of the late 1990s. Stay tuned...
Notes:
- Red arrows occur when percent bulls peaks above 65%.
- Green arrows occur when percent bulls bottoms below 35%.
- Green & white arrows occur when percent bulls bottoms below 55% (from 1996-present).
- Percent bulls equals the 4-week moving average of the number of bullish advisors divided by bullish plus bearish advisors.
According to today's chart, investment advisors are extremely optimistic. If you accept the theory that pessimists are potential buyers and optimists are potential sellers, then the current percent bull reading of 75.3% suggests that the Gulf War II rally may be running out of steam. It is interesting to note that currently, there are more bullish investment advisors relative to bearish advisors than at any period during the tech bubble of the late 1990s. Stay tuned...
Notes:
- Red arrows occur when percent bulls peaks above 65%.
- Green arrows occur when percent bulls bottoms below 35%.
- Green & white arrows occur when percent bulls bottoms below 55% (from 1996-present).
- Percent bulls equals the 4-week moving average of the number of bullish advisors divided by bullish plus bearish advisors.
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