The weekly figures from the Investors Intelligence (II) sentiment survey are out. Here are the highlights:
The bulls dropped a bit this week, and the bears remained the same, so there was a slight dip in the bulls-minus-bears line. With the market near multi-year highs, it's encouraging that the bulls-minus-bears line is only about 20%. A difference of 40% is a level which we consider extreme. So, there could still be significant upside left in this rally.
The table below compares the current data to typical data since 2005. Optimism is not much higher than the average.
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