Chart of the Day: No worries about sentiment…

As we’ve been reporting herein, the macro economic setup supports the notion that the present bull market has more to run.

In the spirit of John Templeton‘s forever prescient quote,

“Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria”

the present state of market-inspired leverage says euphoria would not nearly describe present market sentiment:

click to enlarge…

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