For much of the Fall, we commented on how the bears kept insisting that everyone was too bullish. We countered that the surveys just weren’t supporting that, as most confidence polls were showing levels of bullishness (or optimism depending on the poll) in the lower half of their yearly ranges. With that in mind, we have updated our confidence matrix to see where the various sentiment surveys stand.
As of the most recent figures, investors and consumers are certainly more bullish now than they were last Fall. As it stands, each of the indicators we monitor are currently in the upper half of their range, with the AAII, Michigan, and UBS Polls sitting at their most bullish levels of the last twelve months.