An indicator of market sentiment from Bank of America Merrill Lynch. This is a composite indicator, its components are presented in the table on the right. What is interesting — now the value is 2.2, that is, in the zone of the most negative sentiment. This, of course, is a paradox, since the market is near historical highs. We cannot recall a more explicit example of “pain gain” when the market is growing, but almost no one believes in this growth. For comparison, the indicator values are indicated on the scale at the moments of serious price lows (February 2016 and January 2019) and maximum (January 2018). For bulls, expecting further growth of indices from current levels, this is good information. Despite the fact that no indicator can guarantee anything, such a level of distrust and negativity in relation to the prospects of the stock market can become a support factor.