The 2020 bull market has picked up right where 2019 left off: with steady gains and another round of records, writes Chris Matthews. But these gains could be evidence of exuberance in the stock market that is setting investors up for a pullback, analysts say. DeGraaf said he was concerned about the put-call ratio, or the proportion of outstanding options to buy stock relative to options to sell stock for the S&P 500 index over a 5, 10 and 25-day moving averages. Investors are buying more put options relative to call options at a rate not seen since early 2018. Other measures of market sentiment are also reaching extreme levels.

Source: The Standard January 14, 2020 04:25 UTC