“Stock market optimism among professional investors just keeps on surging,” Jeff Cox reports for CNBC. “Bullishness, or the belief that the market is heading higher, is now at 66.7 percent in the latest Investors Intelligence survey, a widely followed gauge of sentiment among investment newsletter authors. ”
“That’s the highest level since early April 1986,” Cox reports, “a potential warning sign that the rush into equities is getting overdone.”
“In just over two weeks of trading, investors already have poured $14.8 billion into stock-based exchange-traded funds, another indicator of money surging in,” Cox reports. “The Investors Intelligence survey also showed that skepticism is nearly gone as the S&P 500 has posted a 3.85 percent gain in 2018. Bearishness fell over the past week to 12.7 percent, also the lowest reading since April 1986. The level was at 15.2 percent just two weeks ago and was above 20 percent the week of Sept. 12.”
Read more in the full article here.
MacDailyNews Take: Overall optimism, coupled with U.S. tax cuts and Apple’s forthcoming earning reports could catapult the company nearer to the elusive trillion-dollar valuation.
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