Funny thing is, however, I just scored our own "Fear/Greed Barometer" -- and it comes in at +10, which is actually an, albeit slightly, net fear reading.
So what gives? I mean, given all that I typed into that first paragraph, you'd think our indicator would be at -100. Max greed!
Well, indeed, the individual investor and investment advisor sentiment readings are screaming greed, but 5 of our market-based metrics suggest that the quiet "smart" money is positioning (or protecting) itself in a manner that is anything but optimistic.
Take a look:
Here (in blue) is the short interest on SPY (the most heavily traded ETF that tracks the SP500 Index) -- (pardon all of my annotations; just follow the red arrow on the right):