Retail Sentiment Shows Exuberance

Investor sentiment is one of the pillars of behavioral finance and defines the general attitude towards future market prices. Investors form their opinion based on facts and their gut feeling. Fundamental and technical factors are examples of facts, whereas stories and opinions of other investors are examples of narratives, which contribute to attitudes.   Investor …

A Lonely Gold Bear

Gold reached exactly into our 1,500-1570 target, which we discussed here during the past months. We are turning bearish on gold as technical and behavioral evidence signals headwind. The precious metal is likely to correct during the next few months. Gold traded into our target. That’s it with the good news, which allowed us to catch …

S&P 500 – A Bull Trap

The past few weeks recorded an extension of the US equity rally. The S&P 500 index hit the 3,000 figure for the first time since its inception this week. Many market participants turned bullish recently. They expect the longest bull market in history to extend even further. We have a contrarian view instead to that. …