S&P 500

For the last two years, short interest in the US stock market's largest ETF has collapsed as bears have been squeezed back to their lowest level of negativity since Q2 2007 (the prior peak in the S&P). But, there's a bigger issue - despite record highs and 'no brainer' dip-buying, anxious longs have dumped S&P ETF holdings for four straight months - the longest streak since 2009 - seemingly confirming Canaccord's recent finding that "it's not complacency, it's paralysis."

From the Slope of Hope: Let's take a step back - --  a few thousand steps back, actually - - and drink in a very long view of the stock market. We'll use the S&P 500 as our observed entity. Here it is below, spanning several decades, with three major tops tinted.

Authored by Adam Taggart via PeakProsperity.com,

Have you moved a material percentage of your financial portfolio to cash? Have you become so concerned about the meteoric ramp upwards in asset prices that you find it wiser instead to move to the sidelines, build "dry powder", and wait to re-enter the markets at saner valuations?

If so, you have my sympathies.

Authored by David Stockman via Daily Reckoning,

On July 10, 2007 former Citigroup CEO Chuck Prince famously said what might be termed the “speculator’s creed” for the current era of Bubble Finance. Prince was then canned within four months but as of that day his minions were still slamming the”buy” key good and hard:

Authored by Kevin Muir via The Macro Tourist,