As global markets continue to surprise investors and traders alike, what is now happening is absolutely stunning. In fact, we haven’t seen this in 32 years.
We Haven’t Seen This In 32 Years
By Peter Boockvar, author of the Boock Report
January 18 (King World News) – Here is what Peter Boockvar wrote as the world awaits the next round of monetary madness: Continuing the flow of euphoric sentiment numbers, the weekly Investors Intelligence report got even more so. Bulls rose to 66.7% from 64.4% last week. That is the highest since April 1986, around the last time the US government got around to major tax cuts. Bears fell to a measly 12.7% from 13.5%. The spread between the two thus builds to 54 vs 50.9 last week and that was also last seen in April 1986…
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And We’ve Never, Ever Seen This
In April 1986, a short term top was seen and the DJIA corrected 5% over the next 5 weeks, rebounded and then chopped around until a December rally. Here is a stat, if we go another 3 days without a 5% correction, we would be in the longest stretch EVER without one in the S&P 500.
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