Sentiment Signal Suggests Increase Chance of a Pullback

The S&P 500 Index (SPX) has been consistently nabbing fresh records over the past nine months, and many stock market newsletters expect this to continue, according to the weekly sentiment survey conducted by Investors Intelligence (II). Each week, II reviews more than 100 published newsletters, emails, and market bulletins and determines the percentage that are bullish, bearish, or expecting a correction (short-term bearish; longer term bullish). Recently, the percentage of bullish newsletters came above 60 ...