Sentiment: Plenty of believers = tactical risk in early 2024 Sentiment indicators such as Farrell Sentiment, asset manager S&P 500 (SPX) E-mini net futures position and the 25-day put/call have risen, entering 2024 near complacent levels. Although not yet euphoric, individual and institutional investor sentiment suggests that many investors have embraced the 34% rally from the October 2022 low and…

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