Tuesday, September 10, 2013

The Sell Side Indicator is improing but still shows extreme bearishness

The Sell Side Indicator is based on average recommended equity allocation of Wall Street strategists as of the last business day of each month. It has historically been a reliable contrary indicator.

Source: Merrill Lynch/BoA

According to Merril Lynch/BoA, Wall Street’s bearishness is still as bad as it was at the market lows of March 2009.

Geir Solem

Elliott Wave Technician
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