A Weekly Contrarian Sentiment Index
The exclusive CONSENSUS INDEX OF BULLISH MARKET OPINION is the premium gauge of positions and attitudes of major professional brokerage firms and advisors as interpreted and recorded by CONSENSUS, INC.
The Index is intended as a guide only, to provide indication of potential market directions. The theory of contrarian opinion holds that when a predominant number of market analysts are bullish, it is quite likely that the market is approaching an overbought condition, and that a reversal in trend may be imminent.
By the same reasoning, when a predominant number of market analysts are bearish, it is quite likely that the market is approaching an oversold condition, and that a reversal in trend may be forthcoming.
Although CONSENSUS identifies the 75 percent level as the overbought level and 25 percent as oversold, these points should be interpreted not as absolute reversal points, but rather as approximate levels of potential market shifts. It is also important to note the trends in the data to get a fuller sense of possible market directions indicated.
To compile the Index, CONSENSUS draws from an extensive mix of both brokerage house analysts and independent advisory services, from both contributors and non-contributors, to provide the strongest possible data base. The data covers a broad spectrum of approaches to the market, including the fundamental, technical, and cyclical: CONSENSUS makes no attempt to discern to which of these approaches traders may be the most responsive.
CONSENSUS considers only opinions which have been committed to publication and therefore have an influence on the trading public, and does not consider opinions which brokers or advisors may hold but do not disclose publicly.
When the Index is published in an issue of CONSENSUS, the most recent data graphed reflects positions and attitudes taken as of one week prior to the Friday publication of that issue.
The CONSENSUS BULLISH INDEX is used by many brokers and traders. The CONSENSUS BULLISH INDEX can be a very effective tool in your trading decisions.
All recorded data is given Friday dates, as most representative of when market letters are issued.
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