Bearish investment advisors outnumber Bulls by a few percentage points.
Believe it or not, that represents an extreme pessimism reading, Investor Intelligence’s John grey tells King World News:
“Normally when you start to see the number of bears exceed the number of bulls, and we have seen that by a modest margin the past three weeks, that generally signals the end of a correction or at least the area of a bottom. That is also what we saw at the end of August, 2010, after about three and a half months of sideways trading at that time.”
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