Sentiment across countries is high after an epic rally in stocks
Various stock markets around the world have surged over the past 2 months, pushing Optix's 2 month average to multi-year highs.
In the U.S., SPY Optix's 2 month average is at 66:
Such high levels of short term optimism have not been consistently bearish for U.S. equities. On the contrary, the U.S. had a greater than average tendency to rally on every time frame, especially over the next year:
In Australia, Optix's 2 month average is at a multi-year high:
In this case, high levels of short term optimism sometimes led to a pullback over the next few weeks/months, but it was not a particularly strong bearish factor for Australian equities:
As in Australia, Japan Optix's 2 month average is at a multi-year high.
Once again, such high levels of short term optimism sometimes (but not always) led to a pullback in Japanese equities over the next few weeks and months: