The Bulls Own Wall Street Now

#contrarian #stocks #Bulls #bears

$SPY $QQQ $DIA $RUT

"As hedge funds place more Bearish Bets the benchmark indexes head into record territory" -- Paul Ebeling

This week, those being in the Bull camp are at 40.4%, while those in the Bearish camp are at 37.1%, a sign that increasing Pessimism may be entering the arena.

Stocks finished higher on Wall Street Friday, giving the S&P 500 its best wk since July. The benchmark index added 0.7% finishing the wk up 1.8%.

Solid earnings reports on the economy and corporate profits helped the market steady itself following the past few weeks of consolidation.

That worked well with a report showing people spent much more at US retailers last month than Wall Street expected. Treasury yields also climbed following the encouraging data.

Friday's gainer follows up on a 1.7% rise for the S&P 500 Thursday, its best day since March.

But, some professional participants see mixed market currents, unknowns in the corporate earnings and the stop-and-go VirusCasedemic recovery have caused some hedge funds to become increasingly Bearish. That according to the Business Standard.

All of those factors, along with the Fed tapering policy questionable, and the specter of inflation and supply chain disruptions, have caused more hedge fund managers to short the market. Believing that there a lot of mixed currents in the market now, so they see a market pullback if there is a change in Bullish sentiment they are placing short bets.

It is unclear if the overall market run up is due for a correction or even a pullback, but given short sellers’ actions in September, the toughest month for the S&P500 since March 2020, they are hedging the opportunity.

The Reddit's have found a new tactic in the war against Wall Street they are cutting it out altogether. So it may not matter what the professional think one way of the other.

Have a healthy prosperous weekend, Keep the Faith!