Investors seem to have returned from the summer vacation in good moods, as the Wilshire 5000 gained over 5% since our last monthly e-newsletter. As investment sentiment measures tend to be lagging indicators, it is not surprising that the rebound in the market led to similar improvement in investor attitudes, as born out by
The quarterly earnings season that is about to begin in earnest will be an excellent barometer of the state of the economic recovery, and be a key driver of the market and investor sentiment in the coming weeks. Until the market can get a better handle on whether a solid foundation for recovery is being laid or whether it is merely a pillar of sand, the market—and investor sentiment—will more than likely be easily swayed by short-term developments.
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