-->>Sentimentrader.com: “Investor's Intelligence reported 59.1% of its population as being bullish (up from 57.3% last week) and 19.3% as being bearish (down from 22.5% last week). This data is finally at a point where we need to become worried about having formed a longer-term market top. Over the entire history of this data, such extreme bullishness has lead to significant under-performance in the weeks ahead. Even just looking at the bull market since 2003, there have been 15 weeks with bullishness in the survey this high. 4 weeks later, the S&P 500 was higher only 2 times, and the average return was -1.8%. Even 8 weeks later, still only 4 of the weeks were positive and the average return was still negative, which is quite a feat when the average 8-week period was positive 70% of the time with a return of +2.3%.”

[b]<font size="4">DAX-Bären ziehen die Reißleine</font>


Der Angriff der DAX-Pessimisten war zu Beginn der Woche zunächst von Erfolg gekrönt. Als die Kurse jedoch schnell wieder nach oben drehten, brach bei den Bären Panik aus. Sie lösten ihre Short-Positionen auf und sorgten mit Eindeckungskäufen für weiter steigende Kurse. Obwohl sich die Stimmung wieder verbessert hat, bleiben die Aussichten für den DAX-Index positiv.




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