"Everything's Overbought" And There's "Too Much Optimism"

Daily Zerohedge Post https://www.zerohedge.com/news/2018-01-08/everythings-overbought-and-theres-too-much-optimism

"The most hated rally" this is not...

As Bloomberg writes, equity euphoria has gripped most of the world to kick off 2018, with the 14-day relative strength index for major stock markets surging to overbought levels.

And it doesn't look like slowing down, based on sentiment, but optimism about U.S. stocks among investment advisers is so prevalent that investors may end up disappointed this year, Doug Ramsey, chief investment officer at Leuthold Group LLC, wrote in a report Friday.

Ramsey cited figures that showed 76.7 percent of bullish or bearish newsletter writers were bulls last year on average, based on weekly surveys by Investors Intelligence.