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Barron’s has conducted its “Big Money” poll since the 1990’s. Last fall when the stock markets weren’t doing really well, this poll came in with one of the lower readings that has taken place in the past decade and the results….the market responded with a rally…oops they were a little off!
Now we have the opposite taking place as the “Big money has NEVER been more bullish!” (see inset chart above) At the same time, two of the broader measures of the stock market, S&P 500 and the Wilshire 5000 are up against some resistance lines that have been in place for the past 13-years!
Will the extraordinary level of bullishness/big money bulls, finally be the key to push these markets past resistance levels they have been unable to break for more than a decade?