Dec
28
Ripening Sentiment Toward U.S. Stocks Fails to Ring Sell Alarms
By-
Conference Board confidence measure highest since January 2004
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S&P 500 has historically rallied following similar peaks
One measure of U.S. equity sentiment just had its biggest jump since 2009. Does that imply a euphoric moment that puts the bull market on death watch? History suggests not.
A Conference Board index tracking Americans who expect shares to rise surged 45 percent in December, data showed Tuesday. While that was the highest reading in more than a decade, similarly elevated levels haven’t been reliable sell signals. Six times the survey was higher since 1997, the S&P 500 Index rose in the next 12 months by an average of 2 percent, Bloomberg data show…
Ripening Sentiment Toward U.S. Stocks Fails to Ring Sell Alarms
