some key breakdowns that don’t bode well for the tape as a whole in the coming months.
Like many of the bearishly inclined investment class Lamensdorf is concerned about how far the market has come without any meaningful pullback. He takes it beyond a hunch when he points out some of the flaws in the bullish argument that the public isn’t taking part in this widely despised rally yet.
Professional sentiment in the form of research from Institutional Investors is of course widely bullish. At this point the fund managers who’ve been sitting in cash for the last couple years are either out of business or simply long out of necessity. Being long defensive sectors is about as close to bearish as many are willing to get.
Watch the video below for more details: