Where have the stock market bears gone?
With stocks near all-time highs, the bears have definitely been toning it down.
Even the vocal bears are warning stocks will go up before coming down.
Trader Steve Cortes tweeted this chart of Investors Intelligence’s latest survey of bulls and bears. The percentage of bears in the market is at an incredibly low level.
It’s worth noting that this may be a contrarian indicator suggesting that the market is near a top.