We are seeing bullish sentiment extremes,and this shows that the bull market is unsustainable,according to Walter Zimmerman,Chief Technical Analyst at United ICAP.We are likley to see the highs for the year this month.Be wary of any sudden moves to the downside.
Everyone is long,waiting for the next rally.Everyone is already in the market.All the mergers are also a sign.It's not just individuals that are bullish.Historically,market tops have been marked by big financial mergers such as the recently announced Deutsche Boerse-NYSE/Euronext or the CME-NYMEX tie-ups.
United ICAP is a technical advisory service and inter-dealer energy broker.It provides analysis to the energy industry,as well as the average trader and investor.
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