Optimism Continues
Chart of the Week for November 21-27, 2003
Each week, Investors Intelligence polls investment advisers for their outlook on the market. The latest sentiment poll indicates that more investment advisers are bullish (believing the market will rise) than bearish (believing the market will fall). Recent months have seen high bullish readings with investors extrapolating the upward trend in technology. Historically, when many advisers are bullish, the market is likely to decline, and vice versa. The correction line represents advisers expecting weakness in the near-term while maintaining an optimistic outlook for the longer-term. Investors Intelligence believes risk is very high at this time and that this bull market is short-term in the midst of a long-term bear market.
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