what about market sentiment? consistent with a divergence in positioning, you can see a clear disjunction between households and professionals. on the former, note that traditional measures of retail sentiment — e.g. AAII bulls/bears or CNN fear/greed — have moved into neutral territory. on the latter, in our most recent Quick Poll survey of sentiment across professional traders, the ratio of bears-to-bulls was still 3:1 (link).
December 1, 20221 min read