What if the bounce fails?

Thinking the Unthinkable

We have gotten used to the notion that this is the "most unloved bull ever" and that sentiment and positioning indicators show us that this clearly cannot be the top as there is no exuberance. But given the enormity of data being produced in/by the financial markets we wanted to challenge that thesis and actually focus on the pockets of the market that actually are at extremes and that would support at "sell" thesis.