Optimism?

He portends doom: “Those trend-following knuckleheads on Wall Street don’t realize it (yet), but the stock market will fall without the Fed’s help, because corporate America is starting to really struggle,” predicts Sagami.

Sagami’s evidence? Just 37% of companies have increased their revenue forecasts over the last six months, the smallest number since the 2001 dot-com bust. And just 49% of stocks have seen their earnings-per-share estimates revised up, the least amount since 2012.

What this all means is that Wall Street and its “cheering-pit traders” understand the stock market is going to drop like a stone unless more central-bank stimulus is coming, he says. “Wall Street continues to tell you and me to keep buying stocks, while behind the scenes they are becoming more bearish by the week,” he says.

It all makes sense to me.  Brokers make money when people buy and sell.  They might as well keep bringing in buyers until its scary.  Selling is inevitable when the big drop comes.  The average joe is not scared of a market down turn yet even though in other countries lives are becoming ruined.