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SocGen calls for caution on US equities

Analysts upbeat but indicator points to possibility of a sharp fall

IF you bought nothing but US equities this year, you would have been up 30 per cent on average.

The S&P 500 index is trading at an all-time high of about 1,800 points, up from 1,400 points at the beginning of the year.

Bullish sentiment is also at a high.

A popular weekly sentiment poll by research outfit Investors Intelligence noted this week that bearish sentiment among advisers had fallen to levels last seen in 1987, while bullish sentiment is approaching a level indicating the end of a rally.

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