economy after some lackluster economics reports. Stocks have rebounded in the past week. They jumped on Tuesday after Janet Yellen, the new head of the Federal Reserve, said she would continue the central bank’s market-friendly, low-interest rate policies. The S&P 500 was down almost 6 percent for the year as of Feb.
As the stock market comes back, commodities tell a scarier story
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There’s just no making sense negative reviews of the elevation group of this stock market
Predictably, few of the indicators are providing a particularly strong sign in either direction, though the balance is tilting toward the bulls. That’s especially prevalent in what the firm calls its Sell-Side Indicator, which continues to show high levels of fear on Wall Street. “Wall Street’s bearishness remains nearly as extreme as it was at the market lows of March 2009,” Michael Hartnett, BofA’s chief investment strategist, said in a note. Paulsen at Wells Capital, for instance, recommends that investors look for unloved areas such as utilities and materials, and some under-the-radar moves in commodities. Keith Springer, head of Springer Investment Advisory, finds the behavior “very normal” in the wake of a big year and thinks investors with a strong enough appetite for risk will do well. “Basically everyone was ending the year with tremendous positive sentiment,” he said.