Too many people are fighting the rally
Mid-week market update: Until yesterday’s market melt-up, it seemed that individual investors were fighting the rally, which is a contrarian bullish sign. I noticed it on the weekend when the level of engagement on my bearish tweets were an order of magnitude higher than my bullish ones. In addition, the New York Fed’s recent consumer expectations survey was having trouble finding equity bulls.
The full post can be found here.
Source: http://humblestudentofthemarkets.blogspot.com/2023/11/too-many-people-are-fighting-rally.html
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