Analysts say that when the economy turns bullish again, these divisions should benefit.
That means market timers should look for more justification than a quick end to the war before turning bullish.
If his indicators show that earnings are turning higher, he said, he will not be afraid to turn more bullish.
Indeed, a number of cable analysts are turning bullish on the company again.
But once market sentiment turned bullish, investors showed an almost insatiable appetite for the kind of stocks that make up the Dow.
According to this view, when people turn bullish, the outlook is not really good.
Wall Street's top-rated economist has joined the growing list of bears who have turned bullish.
Often, when bearish opinion is extreme, markets can quickly turn bullish, analysts say.
This is particularly true of hedge funds, which, for the first time in many years, had recently turned bullish on Japan.
But when the dollar rose, stock investors turned bullish.