My 3 main takeaways:

- Buy-side sentiment stays bullish, but without pushing to new highs

- The “Buy Europe” theme is losing steam

- Gold and Euro both close to maximum bullishness

All the Charts & Analysis at Sentiment-Matters

Since the heydays of the euro crisis

And will Treasuries stay the risk free rate?

- Current message: Surprisingly, no signs of extreme bullishness in the data; non-commercial positions are net short.

- The bad: Overall, few reliable signals, limited history, and inconsistent performance.

- The future: CFTC data may cover the wrong type of investor, but this can change as crypto matures.

- What is it: Similar to my FX Sentiment Heatmap, I analyse CFTC positioning data for Bitcoin across investor groups, including net long positions and their percentage of open interest.

- The good: Speculative net long positions have occasionally acted as contrarian indicators.

You supposed to buy low, sell high 😂

Not one of my TopTier indicators, but it has a decent track record. Equities have performed worst when consumers have been most bullish.

The base line for sell-side 12 months index targets is 10%, which is exactly where these are at. So average bullishness.