Smart/Dumb and indicators flip to pessimism
A week of selling, no matter how severe, just isn’t enough time to get fully reflected in many of our indicators. But it’s been heavy enough to push some of them back below neutral for the first time in months. As far as the spreads between Smart and Dumb Money and optimistic and pessimistic indicators, we’ve now seen the end to those long streaks of extremes.
See this report for more detail.