There are two notable extremes popping up in the U.S. Stock Market.
Rydex Bearish Assets are at an all time low. Chart via @JLyonsFundMgmt
Investor Intelligence bulls are at all time highs. Chart via @CharlieBilello
There are not a lot of great entries in the market right now and that tends to happen when the market is ‘full’. These data points only back up that assertion.
It’s not a bad idea for long-only traders to just take some time away from the screens.