From Pragmatic Capitalism:

I've been posting an abundance of bearish material lately so I thought I'd lighten the mood a bit with something that is pretty bullish.

Current levels of volatility are consistent with very bearish longer-term psychological points. Historically, these sorts of readings have been bullish as the market's participants are poorly positioned for any potential upside surprise.

The following two charts provide from insights. The first is via Charles Schwab and SentimentTrader:

Read full article (with charts)...

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