John Gray, co-editor of the Investors Intelligence newsletter says:
“The current attitude level is considered the danger level and the market is poised to head the other way in the near term. Early July saw the bulls exceed 50 percent and we said it might take the Nasdaq comp joining other ongoing index highs to achieve the capitulation to boost the reading to into the top region. The bulls could still advance further to equal those 2015 peak levels.”
Dan Suzuki, Senior U.S. Equity Strategist for Bank of America-Merrill Lynch told CNBC’s “Markets Now” that there has been a change in leadership on Wall Street and the fundamentals of the market are not very good when compared to valuations. Watch more below.
Dow Jones Industrial Average: 18,573.94 (+21.92 / +0.12%)
NASDAQ: 5,228.66 (+1.55 / +0.03%)
S&P 500: 2,182.22 (+4.07/ +0.19%)