Here Is The Chart That Has The Central Planners Concerned

"With global stock markets hitting new recent and in some cases all-time highs, the spread between the bulls and bears is in incredibly dangerous territory as shown in the remarkable sentiment chart below.  Bullish sentiment is at extremes as the markets have traded near highs...

The spread between the bulls and bears narrowed fractionally to 45.2%, from 45.4% a week ago. Recent readings have been above 35% signaling elevated risk and the last four differences were above 40%. It was 46.4% at the end of 2013 and stocks sold off to start this year. By early February the difference had narrowed to 24.4%. The last favorable spread occurred in August 2013 at 13.4%, close to the 10% (or less) reading that allows for broad buying. Bears haven't outnumbered bulls (negative spread) since October 2011."

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/6/18_Here_Is_The_Chart_That_Has_The_Central_Planners_Concerned.html

Sentiment Chart