John Gray - We Are Getting Very Close to a Stock Market Top
kingworldnews.com
FEBRUARY 09, 2012
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With investors as welll as professionals wondering when the global markets will peak, today King World News interviewed 32 year veteran, John Gray, from Investors Intelligence. When asked what he is seeing in terms of sentiment readings and where he believes markets are headed, Gray responded, “We had further gains last week with solid market action. This took the Nasdaq to new highs and this week we had the Dow Jones Industrial Average break above its highs from 2011. This week we also had the number of bulls move up to their highest level in quite a while, advancing to 52.1%.”
John Gray continues:
“So we now have the bulls above their January levels and their best reading since April of last year when the market peaked. At that time the bulls were 57%, so only about 5% higher than where they are right now. The trading also has the S&P 500 at highs along with the NYSE Composite. The larger cap indexes are still lagging behind now, only challenging their prior highs with the trading this week.
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