Speculators are record long, and commercial hedgers are record short. That potentially dangerous constellation is partially disarmed by a much less bearish, larger-scope sentiment picture.

The S&P 500 stalled and corrected at peak optimism around 2,400, which has been the Profit Radar Report’s intermediate (but not final) upside target since January 2016.

 

And that begs the question: Is it time to get out? asks Simon Maierhofer.

Source: The smart money is record ‘short’ in stocks, and the dumb money is record ‘long’