Sentiment

I am reading that Berstein's DSI (Daily Sentiment Index) is showing the highest number of bulls since the October 2007 top. This put call ratio would tend to back that up. The 10 dma reading is 1 standard deviation from its 3 year average. That, while maybe not always the most timely, has been associated with market tops. The market is really running with this 'better than expected' employment report. Just lets not forget we have lost more jobs in this recession than any other post WWII recession. Calculated Risk does a good job with the report (see the BlogRoll to the right for a link).