From Business Insider via LPL Financial.
Authors notes: "While it has been impossible to kill so far this year despite all the shots fired at it, this is no mindless and shambling rally. Stocks have deliberately moved past these events that did not stop the still beating heart of economic growth in the United States."
The author also notes that stocks have risen despite:
In four of the past five months, investors have been net sellers of U.S. stock funds. This has been the case in four of the past five weeks, as well, according to the Investment Company Institute.
The American Association of Individual Investors Sentiment Survey measures the percentage of individual investors who are bullish, bearish, and neutral on the stock market. The percent that are bullish on the stock market this year has averaged 38, below the 10-year average of 41—a period that included the long and deep bear market that accompanied the 2008-09 Great Recession.
Insiders, or top executives of companies, have been net sellers of shares. While the pace of insider selling often slows during the “blackout” periods around the earnings season, recent data show that the number of shares of S&P 500 companies insiders have sold relative to those that they have bought has soared.
*Long ETFs related to the S&P 500 in client and personal accounts.
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