The percentage of investors who describe themselves as "neutral" is at its highest in over 11 years as a modest 5% retracement in stocks has bulls running for the hills and individual investors extremely uncertain once again. As Bloomberg notes, "everyone is sitting in the middle of the canoe waiting for something to happen." Will it be Birinyi's 1,900 surge, Tom Lee's 2,100 spike, or DeMark's 1929 crash analog?
For the four weeks ended last week, survey respondents expecting little change in stock prices amounted to 59 percent of those calling for gains or losses. The figure, based on the market outlook for the next six months, was the highest since March 2003.