Written by Jim Welsh
Macro Tides Technical Review 28 November 2016
Sentiment Issues a Warning
Last week I noted that sentiment had jumped significantly from before the election through November 15. Since the market had continued to climb after November 15, I thought it was probably a safe bet that bullishness had increased further. It did. The percent of bulls in the weekly American Association of Individual Investors survey rose to 49.9% bulls as of November 22, the highest in two years, and up from the 23.6% bulls registered on November 8.