Who do you believe?

Thursday August 13 Here is a excerpt from a wealth mangement update just today ____________ Encouragingly, sentiment reads remain constructive for the bull case precisely because they are unremarkable; bull-bear surveys register a neutral bias rather than euphoria, and bull markets tend to die on euphoria, not skepticism. Elevated money market balances continue to provide a buffer against sizable pullbacks. ___________ Okay my take, a neutral bias did not get the market to INDU54,000, the wildest most optimistic bias ever got it there. Market Vane surveys money maanagers and investors, its bullish consensus now has a 77 four week average, the highest in some thirty years, yes higher than the dot.com peak That is not neutral. SPX jumped today 7,850 or so looks like a decent target