The latest results from the Smart Money / Dumb Money index show that retail investors (dumb money) are very confident in a rally while institutional investors (smart money) are not as confident in the markets continuing to rally. These numbers don't mean the market can't continue to work higher in the short-term, but typically any short-term gains are quickly erased by a larger correction, especially when readings reach these extreme levels.
Smart / Dumb Money Confidence
The Smart Money is 33% confident in a rally.
The Dumb Money is 71% confident in a rally.
The Dumb Money is 71% confident in a rally.
