- Traders seem to be on autopilot, as the major equity indexes continue to grind higher in a similar fashion day after day. That leaves us with too-optimistic sentiment, horrid breadth, poor price patterns and questionable seasonality...but a constant bid underneath prices.
- The spread between the Smart Money and Dumb Money Confidence has reached -50% for only the fourth time in 15 years.
- Rydex traders have shown an explosion of interest in growth funds versus value funds, recently favoring the former over the latter by nearly 7-to-1.
