Short term sentiment gauges have moved up quite a bit
The CNN greed fear index is at 55, up from the low teens a few
weeks ago. The NDR short term gauge is currently at 66, up from its lows in the teens in February.
This is a negative from a contrarian point-of-view, as
optimism has begun to rise.
Intermediate term sentiment from the Investor’s Intelligence is at 46% bulls
and 19% bears. NDR crowd sentiment is at 66. Both are midrange, however neither
have reached the oversold levels typical after such high numbers from January.