We’ll keep adding to the reasons to be worried as we see them Here’s where we stand now…
The first two we’ve talked about a lot: The election and the FOMC will soon be gone, as reasons to be excited.
The third we mentioned earlier: mutual fund selling.
The fourth: Bullishness is in the nosebleed levels, according to the latest AAII report. Bears are down to just 21.6% of investors.
Not surprisingly, with stocks seemingly impervious to all kinds of bad news (including yesterday’s big QE-lite report), people are having a hard time justifying the bear view… and that’s when there’s trouble.
Update: Here’s the chart from Bespoke. Bullish sentiment is at a 2-year high.
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