Market Watch with Tom Waitt

August_8th_2012.mp3 A Positive Negative    Market sentiment is at bearish extremes. Media reports continue to shock investors with re-takes of old news. European woes are of great concern but the markets seem to have discounted with recent strength in equities.   Market Sentiment (Click For Larger Picture) Investor sentiment indicators are at near panic levels. Despite this the S&P 500 index closed above 1400 yesterday and is set to test this years high of 1422.38. It has been four years since we traded higher. The market is finding strength even before the "Fiscal Cliff" and the ugliest Presidential election campaign as U.S. politicians continue to dig in along party lines. Markets move on emotions, usually FEAR & GREED, but lately it has been near panic. Currently bullish sentiment is as low as at any time since the recessions end. With investors at current extremes contrary opinion is important; historically turning points come at these levels. There are many oppo