Good Monday morning. Following another short-term (3 week) shakeout that hit the markets hard (with the average stock falling more than 30%), last week featured a rather stunning comeback that resulted in November gains for the S&P 500, Dow Jones and Russell 2000. Only Nasdaq finished lower for the month. As we start trading today we’re just 2-3% from all-time highs yet remarkably, the Fear & Greed Index still sits in “extreme fear” with a reading of just 23, while last weeks AAII Sentiment Survey came in with 9% more bears than bulls (32% bulls to 43% bears).

Because we’re in the most bullish seasonal period of the year, if you’re a contrarian, these sentiment readings have you salivating. The VRA Investing System remains at 9/12 screens bullish but should this week feature a continued comeback in the semis (our leader for market timing) and bitcoin (which is trading back down to $86,000 this AM), we expect we’ll soon see it back to 10/12 screens bullish. Yes…we’re still in...