With tremendous volatility in global markets, investors and professionals are wondering where the markets are headed from here. This piece will provide a huge clue for investors. Today King World News wanted share with its readers key portions from the latest Investors Intelligence report.
This is an extremely important piece because it shows increasing pessimism for the third week in a row, even as the market continues to strengthen. Here is the latest Investors Intelligence report: “We did see the third weekly drop for the bulls to 39.4%, from 40.4% last time. The first week of July had their number at 44.7%, up from 34.0% at the start of June when the averages fell to their 2012 lows.”
“Now they have fallen back to midway between those two levels, despite the index gains, they trade at least near their July highs and in some cases above. That is a favorable sign suggesting they were not rushing to accumulate new positions and there is likely still plenty of cash on the sidelines.