So, for now at least, the “bulls” remain in charge of the current rally that begin the Federal Reserve’s market interventions in late 2012. The seemingly inexhaustible rise, despite rising geopolitical tensions, extremely cold weather and weak economic data, has defied logic and lulled market participants into an excessive state of complacency. In fact, the bulls continually argue that the “retail” investor has yet to jump into the markets that will keep the bull market alive.

The chart below suggests that they are already in. At 30% of total assets, households are committed to the markets at levels only seen near peaks of markets in 1968, 2000, and 2007.

…..continue reading HERE