The Investors Intelligence survey is one of the longest running stock market sentiment surveys and is the most reliable. It is generated by a surveying of the same group of writers and analysts every single week.
This week it made history by registering the fewest number of bears in its history. There are now fewer bears than there were in 1987 before the stock market crash and in 2015 before the August flash crash style dip.
Take a look.
So after a year of straight up action without even a 3% pullback off of the highs for the S&P 500 there are no stock market bears left.
At the same time the bulls are at the highest level that they have been in my years of trading, which is now in its third decade.
So at no moment in my investing and trading career has this survey been so skewed bullish as it is now.
Don’t get me wrong I’m not saying the stock market is going to crash or collapse right now.
But if we don’t pay attention to what is happening and just fall asleep we’ll miss the important warning signs when they do come!